Why not force them into Chapter 11 and work safeguards that are already in place?Is it Constitutional for the Treasury to be able to control companies who aren't in Chapter 11?
No ... by the common law at the time of the Founding. Companies are chartered. The sovereign may not arbitrarily ignore that charter.
No ... because companies are chartered state by state, not by the federal government.
No ... by the Constitution, such power is not one granted the federal legislature, nor is it a reasonable extension of the few limited powers granted Congress.
No ... by the Bill of Rights immediately appended to the Constitution at ratification. ';The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures';. Such power would be an unreasonable seizure.Is it Constitutional for the Treasury to be able to control companies who aren't in Chapter 11?
NO, but all the Obama Administration has done, is violate the Constitution. The companies should have file bankrupt them self, with out being forced. Obama and his cronies are trying to take over every business for the government to control, and we the people are next, and it is coming quick.
it may not get that far
i hope it doesn't get that far
it would take several years for S.C. to get involved
and severe damage could be done prior to that
How will we nationalize the businesses then comrade?
Edit - see comrade, now we will have automobile industry.
No, nor companies IN Chapter 11, either.
No. But then again, the liberals will use the elastic clause to destroy capitalism.
No the Government and free markets must remain separate!
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