Posted by
CPT on Friday, May 22, 2009 11:13:28 AM
While generally opposing activist courts it is most disconcerting when they don't or won't act in their actual constitutional role. The Federal Behemoth's
nationalizing of private companies is quite grossly outside the scope of their enumerated powers.
Actual harm to private citizens and their property is taking place. From the link above; "GM pensioners, did indeed represent something like $20 billion worth of
GM’s liabilities. So the idea that the union should get an equity stake
in return for that is fair enough. However, the UAW is getting three
times as much as the bondholders, who represent $28 billion of GM’s
outstanding liability."
Where is equal protection under the law? Where is the prohibition on illegal "taking". Where is the "fairness" that collectivists so frequently moan about?.
Who has standing to bring suit? Why hasn't it been done already? If I held those bonds I'd be suing GM's butt off as well as challenging the blatantly unconstitutional actions of the executive branch.