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Sam Kazman, the general counsel for the Competitive Enterprise Institute, said the OLA sets up a situation for many states similar to the situation Indiana faced in the 2009 bailout of Chrysler. Indiana, whose pension funds held a stake in Chrysler, was treated differently from other creditors and ultimately lost $6 million when the company was restructured, Kazman said.
“I see the possibility of that being repeated here on a much broader scale,” he said.
Links:
[1] http://cei.org/expert/sam-kazman
[2] http://freebeacon.com/constitutional-challenge-to-dodd-frank-grows-ranks/