Yesterday I gave you a Boortz economic lesson in an attempt to explain what the Barack Obama administration is trying to pull in this Chrysler bankruptcy. The latest on this story ... Thomas Lauria, a lawyer for top creditors, has officially filed a motion to stop the Chrysler bankruptcy. Lauria claims that the Obama administration has violated the Constitution by trying to devalue the senior creditors' holdings on behalf of junior creditors. What does Lauria base this on? Something called the 5th Amendment. Maybe you have heard of it. Just in case, here is a little reminder:

No person shall be held to answer for a capital, or otherwise infamous crime, unless on presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

But wait ... as they say ... there's more! Lauria, who represents the group referred to as the non-TARP lenders, is going to ask that the bankruptcy court keep the names of his client confidential. Why would that be? Because they have been receiving threats. You can bet that some of the threats are coming from union members. These union goons like the idea of their pension debts being given priority to Chrysler's secured lenders, and I think we all know what union goons do when something happens they don't like. There was a time not too long ago when the Bureau of Alcohol, Tobacco and Firearms noted that the number one illegal use of explosives in the United States came at the hands of union members engaged in work actions.

But there's another group threatening the secured non-TARP creditors. That would be the White House. Lauria and others have claimed that people within the Obama administration have made it clear that if any of these secured lenders get in the way of Obama's gift to the unions the White House will work to destroy their reputation. Now the White House denies this. What would you expect? But listen to the language ... Obama has attacked these people in public as being "vultures" and has painted them as evil capitalists who don't want to stand by the families of Chrysler workers. If he'll do this in public, what do you think his attack dogs will do in private?

Even if you think Obama hung the moon; even if you're now calling him the best president this country ever had; you just have to recognize the danger in the precedent that's been set here. The United Auto Workers are getting priority for their unsecured Chrysler debt simply because they are political powerful. Now just how is that going to work out for us in the future? Do you want to live in a financial world where lenders base lending decision in part on the political prominence of the borrower?

Giving unsecured creditors priority over secured lenders in bankruptcy proceedings .. now that's change you can believe in.

President Obama is trying to follow through on his campaign promise to close tax loopholes and clamp down on all of those evil rich people and corporations who dare to put their money in overseas accounts where they have more potential to grow. Obama says, "If financial institutions won't cooperate with us, we will assume that they are sheltering money in tax havens and act accordingly." Read that again - please. Either cooperate with us or we're going to assume you're breaking the law. I may be wrong, but don't we have a long and valued tradition whereby the government assumes innocence until guilt is proven? Guilty until proven innocent ... sounds about right. Just another change we can believe in.

So what exactly is Obama's plan? Well for starters, companies that generate profits abroad would not be able to write off any domestic expenses. This is commonly referred to as "deferral." The thought behind this is that it will reduce the incentive for American companies to base some or all of their operations in countries that won't gouge them to death with taxes.

Obama also wants to overhaul regulations known as the "check-the-box" rules, which give companies the ability to decide where their subsidiaries should be taxed.

Another part of Obama's plan is to .... Imagine this ... hire more government hacks! Not just any hacks, but 800 new agents for the IRS in order to better enforce the tax code.

Here's your bottom line. There is somewhere between $10 and $13 trillion dollars of American wealth that have been sent overseas where those dollars can be free to work and produce wealth in places where tax treatment is more favorable. These dollars are fleeing tax tyranny and looking for freedom, much like people in East Berlin tried to get over that wall to find freedom in the west. The East German communists shot those people down in cold blood. Obama wants to do the same to your money. He's and his Democrat pals are erecting an economic Berlin Wall to keep your money from escaping their tyranny.

One of the first acts of Obama's administration was to begin the process of shutting down Guantanamo Bay. No one had actually thought about what to do with the prisoners - where to put them, how to try them - but the order to shut down Gitmo nonetheless. Now lawmakers have unveiled a bill to pay for military and diplomatic efforts. It costs well over $90 billion. One of Obama's requests that was not included in the bill was $50 million to relocate prisoners from Gitmo. Democrats in the House decided that they just weren't going to include it. They have no idea what to do with the prisoners, so the plan will go unfunded until further notice.

Don't worry though ... the money could be transferred at a later time, and without a vote that promises to be politically challenging.

I have two great suggestions for relocating the prisoners. Haiti or Berkeley. You choose.

Swine Flu Hysteria! Duhhhhh .... You think?

The mugging of Chrysler by the union .. .this whole scenario reads like a bad gangster movie. Good column ... don't pass this one by.

Barack Obama may announce his choice for a Supreme Court nominee as soon as this week.

Who is helping the Democrats draft their climate change legislation? Lobbyists ... who also happen to be getting a deal from the Democrats.

More than 40% of people on this planet live under a regime that does not allow freedom of the press.

Just what does a criminal illegal alien have to do to get deported in this country?

It's time for that "equal treatment under the law" stuff to apply under the Voting Rights Act.

ACORN is back in the news ... Nevada authorities are accusing ACORN and two former employees of illegally paying people to register voters. No problem though .. ACORN will still have a big role in the upcoming census.

Debate over the card check bill is now being duked out over Twitter.

Here's an interesting look behind the scenes of the people in Washington who are having a large impact on healthcare reform.

The Obama administration is also working on massively expanding entitlements in the way of student loans.

Great Britain is considering taxing search engines, download websites and broadband providers in order to fund government service TV.

Jesse Jackson says that the NAACP must help to save the auto industry. Hey, maybe it can do a better job than the government.

White House press secretary Robert Gibbs says that there may be nothing the government can do to save the newspaper industry.

In the healthcare debate, government insurance is still on the table ... but not a sure bet.

Now for a list of the top ten reasons why Obamanomics won't work.

Any guesses as to which state in this country has the highest number of bank failures?

A proposed amendment to Massachusetts' child pornography law would make it a serious crime to photograph with "lascivious intent" a person over the age of 60 or a person with a disability who has been declared mentally incompetent.

Talk radio only has five years left?