The Supreme Court has stunningly decreed, despite hundreds of years of precedent in the field of contract law and directly contrary to Article I, Section 10 of the Constitution, which specifically prohibits "Law[s] impairing the Obligation of Contracts", that the secured interests of a group of investors (retired Indiana teachers and police officers, in this case) in a company (Chrysler) can be unilaterally thrown overboard in favor of a group of unsecured parties (the UAW, among others) at the stroke of a pen, simply because the Messiah deems it politically and economically expedient.
As a matter of fact, Obama's Solicitor General actually filed papers in front of the Court yestersday arguing that those Indiana retirees actually lacked the legal standing to even file suit to oppose such a radical and unprecedented robbery of their money.
We are seriously considering moving our investments to hard commodities in order to protect ourselves from this sort of truly frightening financial robbery. What's the point of buying stock in or lending assets to a corporation, only to have one's hard-earned assets ripped away and given to someone else at a moment's notice?
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