From the Supreme Court:

Supreme Court of the United States
No. 08A1096
INDIANA STATE POLICE PENSION TRUST, ET AL.,
Applicants,
v.
CHRYSLER LLC, ET AL.
O R D E R
UPON CONSIDERATION of the application of counsel for the
applicants, and the responses filed thereto,
IT IS ORDERED that the orders of the Bankruptcy Court for the
Southern District of New York, case No. 09-50002, dated May 31 and June 1,
2009, are stayed pending further order of the undersigned or of the Court.
/s/ Ruth Bader Ginsburg
Associate Justice of the Supreme
Court of the United States
Dated this 8th
day of June 2009.

Did the Supreme Court just overturn the administration-brokered deal between Chrysler and Fiat?  No -- it just stayed a district court's order allowing it to proceed. Unclear whether the Court will decide to hear the case, or whether, after all the Justices have had a chance to read the briefings, it will unstay the stay and allow this to proceed.  Justice Ginsburg is probably being cautious here...she doesn't want to preemptively dismiss a case that might be constitutionally suspect -- and one that might set a precedent for future executive-legislative branch disputes. 

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