The Supremes Flunk the Chrysler Test

Tonight the U.S. Supreme Court refused to extend a stay issued Monday blocking further action on the Chrysler bankruptcy and merger with Fiat.

In the order issued late Tuesday, the Supreme Court said it had not made a decision on the merits of the appeal by the Indiana funds, which have protested the government’s treatment of Chrysler’s secured lenders. Instead, according to the order, the Indiana funds “have not carried the burden” of proving that the Supreme Court needed to intervene.

At the government’s urging, Chrysler and Fiat have been prepared to close the deal as soon as the Supreme Court let the sale stand, with the necessary paperwork mostly signed. The two sides can close the deal as soon as Wednesday morning, when the government can wire the money needed to finance the new Chrysler entity, a person briefed on the matter told DealBook.

Earlier Tuesday, a federal judge approved Chrysler’s request to terminate 789 dealer franchises.

You may now consider the U.S. Constitution officially shredded.

Bankruptcy law that has guided liquidations for over 150 years is no longer operative if the president of the United States wants to change the rules.

The adage "evil prevails when good men do nothing" might apply here, except you have to wonder how good those men (and one woman) are when they can sit there and allow this to happen.

This Congress won't defend the Constitution.

This President ignores it.

And now the federal courts, including the highest court of the land, sits on its hands.

How many Americans are even paying attention?