I don't know, Bucco. I think George Will is being extremely polite in describing the situation as only a "tincture". I always thought that that word meant a slight cast or taint. Trampling on the rights of lenders and forcing them with threats to abandon their claims before proper adjudication under the rule of law is a whole lot more than a tincture methinks.

I'm glad that at least one well-known, nationally syndicated columnist has addressed this issue. Other than Will's article, the only other that I've read is the one in last week's Economist.

http://www.economist.com/opinion/dis...ry_id=13610871

There will be more and more troubled companies and threatened employees who will look to Washington for a bailout, based on the terrible precedents already set. Here's another one from this week's Hartmarx bankruptcy...

http://dealbook.blogs.nytimes.com/20...artmarx&st=cse

No single elected official, from either party, will ever do everything that I agree with. What did President Reagan say, something like 80% is a good thing? But in this case, the administration's trampling of lender's legal rights and forcing them to abandon their claims before proper adjudication is a pretty serious transgression.

I like a lot of the things that President Obama has done thus far. But the precedents that have been set which have trashed the legal rights of lenders under our well-established rule of law to gain the political favor of unions has caused my to declare...STRIKE ONE!