>And now Obama and the Congress is going to bail out Chrysler (and probably GM), using our Tax Money to do it (Bush and company would probably have done the same thing).
Not a bailout but a forced takeover with partial nationalization thrown in for good measure. 55% to UAW, 20% gift to Fiat with option to go to 35% and 10% Treasury. The bondholders who previously provided money on the cheap so that Chrysler could remain in business this long...forced out at pennies on the dollar. Expect similar results with GM.
Does anyone else see the irony in Fiat getting this gift from the Executive Branch?
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
