Mitch Daniels: Remembering Obama's Worst Day

Indiana Governor Mitch Daniels has written an op-ed for the Wall Street Journal about the day that Obama ignored private contracts to try and take ownership of Chrysler:

June 10 will be a silent anniversary, but one worth noting by those alarmed at the past year's assault on free institutions. It was last June 10 when the federal government tossed aside the option of proven, workable bankruptcy procedures in order to nationalize Chrysler on behalf of its union allies.

In order to provide preferential treatment to its cronies, the Obama administration confiscated the property of those creditors who had lent money to Chrysler in good faith, believing that their interest was legally secured and that they stood at the head of the line in the event of the auto company's failure.

Click here to read more.