I do not expect the SCOTUS to muster the votes to delay the flying wedge that is the Obama Administration’s “plan” for Detroit. Though hundreds of thousands of shareholders, bondholders, employees of shuttered dealerships and the rights of secured creditors have been steam-rolled, it would require great political courage by five members of the Court to refuse to be rolled.
As this New York Times article makes plain, agenda-journalists are at the ready to paint SCOTUS as Lochner-era reactionaries if a majority rebukes the trampling of the legal rights of anyone thrown from bus in the past few weeks.
The remedy for the nationalization of GM and the forced-sale of Chrysler will be a political one, as Senator Lamar Alexander made clear on yesterday’s show. The nationalization of GM into Government Motors is deeply unpopular, and though there are attempts to paint the widespread rejection of the socialist model as “right wing barking,” in fact the average American doesn’t want the government in the car business, and doesn’t trust Government Motors to compete fairly with every non-government owned car company. Yesterday’s Wall Street Journal article surveying the huge advantages the new Government Motors has over Ford should give pause to the men and women working for the latter, as well as Ford dealers, Ford suppliers and Ford shareholders. Political ideology has very little to do with the unfairness of seeing the federal government pump between 70 and 75 billion into your competitors coffers.
If the Court were to block the transformation of the U.S. auto industry into a subsidiary of the Democratic Party, it would be acting on behalf of every auto worker and shareholder employed by or invested in any car company other than GM and Chrysler. The surveying of everyone who stands to lose when President Obama and Barney Frank begin to make decisions for Government Motors may give the justices pause, but don’t count on five of them saying to the president that he needs to get Congressional authorization for his nationalization of GM.