Chrysler Sale to Fiat-Led Group Is Delayed by Supreme Court
http://http://www.cnbc.com/id/31168688
From the article....
“It’s the first time in American history where secured creditors were not treated as secured creditors,” Richard Mourdock, Indiana's state treasurer said on CNBC shortly after the delay was announced. "“We don’t think the administration can egregiously and arbitrarily throw 150 years of bankruptcy law out the window without process of law.”
The Obama administration, earlier on Monday, urged the Supreme Court to allow the sale, saying that blocking the deal would have "grave consequences."
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I'd love to see the Obama Administration get slapped down on this one.
Perhaps they will even find "tarp funds" to be unconstitutional?