ES -- DX/CL -- isee -- cboe put/call -- specialist/public short ratio -- trinq -- trin -- aaii bull ratio -- abx -- cmbx -- cdx -- vxo p&f -- SPX volatility curve -- VIX:VXO skew -- commodity screen -- cot -- conference board

Monday, June 08, 2009

 

SCOTUS stays chrysler sale


following on the indiana pension fund challenge to the obama administration's on-the-fly rejiggering of bankruptcy law -- via the new york times and SCOTUSblog -- a setback for disaster capitalism. the solicitor general had argued that the supreme court had no standing to rule on any TARP disbursements (!) and further that any delay past june 15 could result in chrysler heading to liquidation rather than sale.

Only two outcomes are now possible, the brief added. “Either the sale will go forward, in which case NewChrysler will be able to restart the production lines — or Chrysler will be liquidated.” The funds’ attempt to block the deal would force that liquidation, “a step whose economic consequences would be so severe that two national governments [the U.S. and Canada] have committed unprecedented resources to prevent it.”


chances are SCOTUS will hand down some sort of ruling before then.

Labels: , ,



something tells me this will be a ruling that only applies to this specific case. Like they did for Bush v. Gore.

SCOTUS will then get to imply that a return to sane judging after this "crisis" is over will happen....eventually.

Until the next case, and then this time we mean it.

 
------ ------- ------

Post a Comment

Hide comments


This page is powered by Blogger. Isn't yours?