Obama ignores bankruptcy law

Author: | Published: 7 May 2009

The US government is illegally restructuring Chrysler to keep the company viable.

US President Barack Obama’s restructuring plan addresses preferred creditors’ rights after it distributes 55% of Chrysler’s assets to the United Autoworkers Union (UAW) through a Voluntary Employment Beneficiary Association (VEBA) trust to the new Chrysler.

“The government is ignoring...