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Politics : Formerly About Advanced Micro Devices

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To: michael97123 who wrote (479351)	5/15/2009 3:26:08 AM
From: Joe NYC	1 Recommendation of 1574680

Michael, presidential power my friend. When bush and co. rewrote the torture rules What is, and is not torture is subject to laws congress can pass and change, executive / judicial branch interpretation, congressional oversight. The constitution does not say anything about this, nor does it give any protection to non-citizens / enemy combatants. OTOH, discarding basic principles of the rule of law is not "presidential power". It is a dictatorial power, power of royalty, but not presidential power as defined by the US Constitution. I wonder if Obama (and his team) even realized what they have done. They have instantly added an "Obama risk premium" to all the bonds, that will eventually filter itself out into the market place. They have deprived struggling firm of financing opportunities, since there is no longer any secured or senior structure for lending (if Obama can throw it out the window whenever politically expedient). The economic damage from the Chrysler deal to the economy at large is far larger than the entire (diminished) value of Chrysler, and certainly more than the amount of money Obama stiffed creditors for (and handed over to unions). Joe

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