The Chrysler haircut

by Walter Olson on May 6, 2009

Larry Ribstein has some pertinent comments about the rolling reinvention of debtor-creditor law going on as the Administration redistributes bankruptcy priorities away from traditional creditors and toward the UAW. And Mickey Kaus credits me with perhaps more prescience than I actually possess about the union role (not that I always venture the cynical prediction…)(cross-posted from Point of Law). More: Michael Barone, Ken Silber.

P.S. Joe Weisenthal is reminded of an episode of lawlessness that I wrote about a few months back: “Before The Chrysler Mess, There Was Republic Windows”. Incidentally, those who wonder what sort of signals the incoming Administration was sending last December about the illegal Chicago plant occupation may be interested to learn that late last month Vice President Joe Biden and Illinois Sen. Dick Durbin paid a visit to the reopened Republic Windows plant, a visit which from a news account sounds as if it might fairly be described as “triumphal” in tone.

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PointOfLaw Forum
05.06.09 at 1:35 pm

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