Obama's recent statement that the shareholders (Chrysler) that refused the government deal were "speculators" just underlines his war on capitalism. These bond holders/share holders are being portrayed as preditory capitalists and not the true investors that they are. This is another example of the Obama Administrations hatred for capitalism. When liberals are stymied by legal efforts to restrain the march to socialism, they do what they always do and resort to name calling and casting aspersions on the perpetrators of the blocking action.
"Judge Arthur Gonzalez approved a series of motions at Friday's hearing, launching a chain of events designed to ensure Chrysler's bankruptcy process is the quick and "surgical" one the company and the U.S. government have promised. But what could prove to be the case's biggest challenge still lies ahead. Chrysler must eventually deal with creditors who defied government pressure to wipe out the automaker's debt and might have helped the company avoid a bankruptcy filing in the first place."
"Gonzalez approved Chrysler's motion to allow the automaker to pay $48.8 million in employee and contract worker pre-bankruptcy wages, benefits and businesses expenses. The motion also references an estimated $86 million in employee vacation benefits that it may not ultimately have to pay."
"President Barack Obama on Thursday chastised the funds for seeking an "unjustified taxpayer-funded bailout" after Chrysler and his auto task force cleared the company's other hurdles, including the Fiat deal and a cost-cutting pact that the UAW ratified this week."
I read nothing in the constitution that allows for government interference in the auto business.
I think Obama has us on a fast tract to total Socialism which has already proven to be ready and willing to violate the Constitutions protections of "Life, Liberty, and the Pursuit of Happiness"!