I work New York hours and live in California, which means I get home in plenty of time to watch both Jim Cramer and Larry Kudlow live on CNBC. While Cramer seems like a liberal who mostly agrees with Obama and his cohorts, Kudlow is a staunch Reaganite supply-sider. Cramer has been virtually silent on the Obamian approach to the reorganization of Chrysler and GM (now Government Motors), while Kudlow has been extremely vocal about how Obama is turning contract and bankruptcy law on its head.

Specifically, the pre-packaged “bankruptcy” deals that Obama has announced for Chrysler and GM force secured creditors (banks, hedge funds, etc.) to stand in line behind unsecured creditors (mainly, the UAW). In a very union-friendly approach to say the least, Team Obama wants secured creditors to take 33 cents on the dollar and unsecured creditors (the union, natch) 50 cents on the buck. A traditional bankruptcy would reverse that arrangement if not in fact award the unsecured creditors nothing or a ticket to stand in line for leftover scraps.

Cramer’s silence has me concerned, but he still offers good advice and insight into Wall Street investing. Kudlow, who’s my favorite commentator on CNBC (okay, Melissa Lee ain’t bad either but for reasons other than sage observations), seems to be drawing a line in the sand over upending the rule of law by fiat, if not downright threats and coercion.

At least one other author agrees (as I do) with Kudlow, and he’s gone even further in describing Obama as a reverse/perverse anthropologist and a “Czar” (quoting someone else) who is turning the U.S. into a Banana Republic where there is no rule of law in the capital markets.

Spengler (aka David P. Goldman)  makes for perceptive reading in his “Banana republic law and zombie economics.” Pay special attention to his anthropologist analogy.

Thankfully, there are still thinkers out there who aren’t cowed by White House threats–and still a few writers who haven’t traded in their objectivity for a chance at being part of the Banana Republicization of the United States that they have so long coveted.