A year ago, GM declared bankruptcy. Creditors lined up to get whatever remnants they were entitled to, as normal...
except it was decidedly UNnormal. Bond holders are prioritized by contract, in case of liquidation. And so in GM's case. But the emperor arbitrarily ruled that union bond holders collect ahead of other, more senior bond holders. In clear violation of the 5th Amendment, the federal gov't committed highway robbery (which they do routinely, but not so brazenly).
I expected a flood of litigation, but... nada. Can anyone explain to me how they got away with that?