Ruth Bader Ginsberg

News that Supreme Court Justice Ruth Bader Ginsburg has granted a stay on Chrysler's sale to Fiat makes a cameo appearance on the front page of the New York Times, the Wall Street Journal, and theWashington Post. The surprise action caught even the creditors, led by three Indiana pension funds, off-guard. In months of arguments, "the Indiana funds [contended] that the sale trampled on their rights as senior lenders because they would recover less than junior lenders. The funds also claim that the manner of the sale did not comply with bankruptcy law, and that the Treasury illegally used billions from the federal Troubled Assets Relief Program, meant for financial institutions, to prop up Chrysler," the WP writes. Under the current deal, a United Auto Workers retiree health care trust got a 55 percent equity stake and $4.5 billion note, and Fiat stands to get an initial 20 percent stake.