We have a president who thinks he is king.  What's worse is that he appears to be right, until things get so bad that the citizens will rise up against him.

For all of the fraud and stupidity that has transpired thus far in this financial crisis, I was absolutely floored by what happened recently with Chrysler's bankruptcy.  The Obama administration ramrodded through a deal with completely obliterated black letter law in regards to who has precedence in a bankruptcy.

Pension funds and investors--regular people just like you and I--had invested in Chrysler bonds.  These bonds are, by law, senior to other debt in a bankruptcy.  Obama decided that it was more politically expedient for the unions to take precedence, and so it was.  Pensions and individual investors received basically nothing, while the unions who contributed to Obama's campaign got full payment on their debt.

The administration argued that this was better for the economy.  Ok.  So what.  You have sworn to uphold the Constitution of this country.  You lied.

The Supreme Court issued a temporary stay on this decision, but they caved today and it will proceed.  So much for checks and balances.

I was willing to give Obama the benefit of the doubt, but this is indisputable.  He does not care about the rule of law, he is already campaigning for the next election.  The laws of this country be damned, all hail King Obama.

This is a sad day.  I really don't care what he does from this point on, the Chief Executive of this country has proven beyond any doubt that he does not care about fulfilling his duties as the head of the Executive branch--that is, enforcing our laws--but is more concerned about scratching the backs of the people who scratched his.

If I had any shred of faith left in our government before today it is gone.  Sorry all you Obama-supporters out there--I know many of you--your guy is an empty suit with no moral compass or sense of duty.  Our Commander in Chief blows with the wind.  Yay.

By the way, this is going to do wonders for the credit markets.  When you're thinking about buying debt that is supposed to be senior to other debt, you'd like to know that that is, in fact, what you are buying.  When this can be changed by the whims of The King you might think twice.  So long, credit market, nice knowing you.

Hi ho, all hail King Obama.