Michael Barone’s column today is must reading. He writes about the threats the White House made to representatives of Chrysler bondholders to get them to agree to a “settlement” that treats senior creditors worse than a politically important junior creditor — the UAW.
Here’s the big problem — in a heavily politicized nation, the government has many ways to threaten people who oppose its plans. As the state grows,, the ability of the rulers (whether elected or not) to skirt the law so they can favor political friends and harm political enemies also grows. The rule of law has been dying the death of a thousand cuts and we’re now seeing machete slashes at it.
