Thursday, April 30, 2009

Chrysler Files Bankruptcy

President Obama made the right decision, sort of, in pushing Chrysler into bankruptcy. The "sort of" part of it is that he demonized some of Chrysler creditors by criticizing " a handful of speculators" who wouldn't go for the government's easy-pass terms.

Now the thing to watch is the court proceedings where the judge decides what happens to the billions taxpayers (through the Obama team) already loaned to Chrysler. I'm sure there' some kind of government largesse the President Obama is planning, but the manuevers to disguise the fact promise to be both thrilling and illuminating.

Stay tuned for Three Card Monte.

No comments: