{"id":839,"date":"2009-05-21T16:38:23","date_gmt":"2009-05-21T16:38:23","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=839"},"modified":"2009-05-21T16:38:23","modified_gmt":"2009-05-21T16:38:23","slug":"more_on_the_chrysler_bailout","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=839","title":{"rendered":"More On The Chrysler Bailout"},"content":{"rendered":"<p>According to today&#8217;s <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/b3c8beb8-4564-11de-b6c8-00144feabdc0.html\">Financial Times<\/a>, three Indiana state pension funds have gone to court to fight the government&#8217;s bankruptcy plan for Chrysler, stating:<\/p>\n<blockquote dir=\"ltr\" style=\"MARGIN-RIGHT: 0px\">\n<p><em>&#8220;In a court filing on Wednesday, the Indiana funds accused the government of adopting a strategy of &#8220;the ends justify the means&#8221;. <\/em><\/p>\n<p><em>They also said the Treasury &#8220;has taken constructive possession of Chrysler and is requiring it to adopt a sale plan in bankruptcy that violates the most fundamental principles of creditor rights &#8211; that first-tier secured creditors have absolute priority&#8221;.&#8221;<\/em><\/p>\n<\/blockquote>\n<p dir=\"ltr\">George Schultze of Schultze Asset Management stated that he felt their actions could galvanize other lenders to renew their challenge.&nbsp; The charge against the settlement is that&nbsp;it violates the most fundamental principles of creditor rights &#8211; that first-tier secured creditors have absolute priority.&nbsp; The funds have requested that the case be heard in district court instead of bankruptcy court.<\/p>\n<p dir=\"ltr\">There is only one outcome of this&nbsp;case that fits the guidelines in the US Constitution regarding property rights.&nbsp; It will be interesting to see if the case has that outcome.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to today&#8217;s Financial Times, three Indiana state pension funds have gone to court to fight the government&#8217;s bankruptcy plan for Chrysler, stating: &#8220;In a court filing on Wednesday, the Indiana funds accused the government of adopting a strategy of &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=839\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-839","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=839"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/839\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}