This was definitely needed. Obama and his grandiose visions and execution of a quick sale to Fiat pressed along by the sheer zealousness of the Treasury Department and the President himself represent an appeal to special interests while neglecting those of others. Clearly politicians can not be trusted to bargain a deal to the likes of this one...
But should the Supreme Court rule the sale unconstitutional and potentially force a liquidation by Chrysler? This may raise more problems, since such an action would only give creditors 800 million dollars to fight over and result in massive job losses across the nation.
A gray area is probably best. Ruling in complete favor of the pension fund will only cause liquidation and upholding the actions by the Obama Administration wholeheartedly would set the stage for the Executive Branch to continue to take precedented action in helping strike private sector deals, an unfavorable possibility. The Supreme Court must censure the administration and rule that such dealmaking is not a full right of the branch, and that culling who deserves the most simply based on what the government thinks is a breach of the laws of the land. The pension funds should be given a fair chance to recover their lost investments.
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