Friday, May 1, 2009

Judge Napolitano's Primer on Federal Bankruptcy; and the Chrysler Situation

Fox talking head Judge Andrew Napolitano is justifiably outraged in this video over remarks made by President Obama and the government's attempt to deny to senior secured bond holders of Chrysler money that is rightfully theirs.

In the video, he also explains how Federal bankruptcy court works and seems quite confident that the senior secured bond holders will prevail in that court. Is Napolitano underestimating the power of Obama, or will Obama's march toward socialism be slowed at the door of bankruptcy court?


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