Did Obama violate established bankruptcy laws with his auto bankruptcy plan?

[teithi71]

http://news.yahoo.com/s/ap/20090608/ap_on_bi_ge/us_supreme_court_chrysler

Indiana funds, which hold a small part of Chrysler's secured debt, claim the sale as structured unfairly favors Chrysler's unsecured stakeholders ahead of secured debtholders like the funds.

As part of Chrysler's restructuring plan, the company's secured debtholders will receive $2 billion, or about 29 cents on the dollar, for their combined $6.9 billion in debt. The Indiana funds bought their $42.5 million in debt in July 2008 for 43 cents on the dollar.

The funds also are challenging the constitutionality of the Treasury Department's use of money from the Troubled Asset Relief Program to supply Chrysler's bankruptcy protection financing. They say the government did so without congressional authority.

[boynton35]

He violated all kinds of laws.
Constitutional law.
Contract Law
Bankruptcy law
But he had to figure out some way to pay off the UAW for their political contributions. This must have seemed like the easy thing for him to do.
After all what does the law have to do with it when you are Obama.
The chosen one

[eilis]

Don't you both feel really stupid now that the Supreme Court has okayed the Chrysler/Fiat deal?

Will you admit that you didn't know the first think about how the law worked on this matter?

[darce]

Sure.

[jung-hwa75]

yes he did and he will continue to do as he pleases until we can impeach his azz

[fionnbharr]

Every time there is a bankruptcy, one of the parties claims the procedures weren't followed. Big deal.

[caffar]

Nope...I believe you may simply be ignorant of Bankruptcy laws (as you are on most topics).

[bedyw25]

Yea, but what does it matter?? Obama has spoken and that is all there is to that. He said he had a birth certificate, its ok with the supreme court. He fires a CEO, its ok with the supreme court. He buys GM and pays secured debt holders less than 30 cents on the dollar, no one questions his actions....

[karlitis]

He spends too much time reading about himself to read the constitution

[vruyk]

Obama knows more better than you about what to do to save our country. You should worship him and let him lead us through these difficult times. He is more smarter and we should listen to him.