From a post I heartily agree with over at Sullivan’s blog.
You know, it’s interesting, as an attorney, I spend a lot of time reading the libertarians over at the Volokh Conspiracy. To a man, they purport to believe in the sanctity of contract rights. During the auto bailout, they raged and gnashed their teeth when various bondholders were forced to take losses by the big unions and their lackeys in the administration. Remarkably, they never have anything to say when a worker gets screwed out of earned pension benefits or health care coverage. It’s as if the contract rights of labor are somehow illegitimate or second-class compared to the inviolate rights of the One Percent.
It reminds me of California when it passed a law allowing anyone to open a safety deposit box that had not been visited within the last three years and claim its contents as abandoned forking over some percentage of the take to the cash strapped state while the “salvager” kept the rest. And Romney only has to pay 15% taxes on his earnings from the looted pension plans Bain cashed and swallowed.