It's Started

I said in my prediction at the start of the year there would be calls for impeachment across the land. It’s begun.

There’s plenty they could impeach him on already. For starters the illegal handling of the Chrysler bankruptcy. If Obama were smart (koff) he would resign while there’s time. Because once the Republicans take back the House and Senate, which it looks like they might, they can call for investigations into his administration. Every week Obama does something worthy of an inquiry.

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3 Comments

  1. Here’s what I’d impeach the swine for. In the dismantling of GM, canceling the rights of the preferred bondholders and killing bonuses promised by law were outrages against the American legal system and I was shocked there wasn’t more outrage over it. Never before in the history of securities law has this been allowed, as well as the tiny settlement given to the secured stockholders in order to give a full recovery to a group (the unions) who had no legal standing to receive anything. And in order to do this, the government also blocked the legal requirement to let the company declare bankruptcy as this provides the best option for the stockholders to recoup their investments. Bluntly, this is illegal under SEC regulations. And the effect this has had on economic recovery on Wall Street is huge, although oddly rarely mentioned. Just as small business is cautious about hiring due to the unknown taxes and regulations likely to come out of the business-unfriendly Obama administration, big business (like oil) is looking over their shoulder to see if they’re the next on the socialization menu.
    This is why I’m not buying any more of the government’s “inflation protected” bonds. If large amounts of inflation occur, I now have little doubt the government will renege on their promise.

  2. I should point out that I think the GM fiasco was worse than Chrysler is that Chrysler was a sort of hesitant test on their part. Emboldened by what they got away with, they kicked out the jams on GM.

  3. True. I should have said Auto bankruptcies. Anyway, there are plenty of other outrages as well. If the Republicans have any spine, they will go after them. I suspect it may happen, because these guys have upset the Republicans a lot more than Clinton did, which lead to his impeachment trial.

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