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Chavez White House, Part Deux: Chrysler and the Rule of Law

The rule of law, not of men -- an ideal tracing back to the ancient Greeks and well-known to our Founding Fathers -- is the animating principle of the American experiment. While the rest of the world in 1787 was governed by the whims of kings and dukes, the U.S. Constitution was established to circumscribe arbitrary government power. It would do so by establishing clear rules, equally applied to the powerful and the weak.

Fleecing lenders to pay off politically powerful interests, or governmental threats to reputation and business from a failure to toe a political line? We might expect this behavior from a Hugo Chávez. But it would never happen here, right?

Until Chrysler.

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The close relationship between the rule of law and the enforceability of contracts, especially credit contracts, was well understood by the Framers of the U.S. Constitution. A pri


Added: May-13-2009 
By: aki009
In:
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Tags: totus, nobama, obama, chrysler, socialism, communism, constitution
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  • God I hope his kidneys fail

    Posted May-13-2009 By 

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  • I WANT MY MONEY BACK ! ! !

    Posted May-13-2009 By 

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  • No... I said:

    "The fact that the writer brings out the image of Chavez shows the writers disdain for the working class, lumping them into a socialist category."

    It's the writer that links Chavez with the American working class - not me.

    Posted May-13-2009 By 

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  • Good article. It talks about "the first priority rule" for creditors. Bankruptcy law in the United States is a branch of civil procedure, in general, and the jurisdiction of federal courts, in particular. It falls into the category of "procedure theory." Procedure theory holds that it generally is wrong in bankruptcy to redistribute a debtor's wealth away from its rightsholders to benefit third-party interests. Procedure theory explains what bankruptcy law is supposed to do. More..

    Posted May-13-2009 By 

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  • Too bad the conservatives such as the WSJ op-ed people didn't think of this nifty rule-of-law philosophy about seven years ago. We could have saved about 5000 American lives, god knows how many foreigners, and about 2 trillion bucks.

    Posted May-13-2009 By 

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