Stock Market PVP II

[Vanraw]

Ready Chryslers notation. That tells you everything you need to know about our goverments involvement into private business.

Chrysler LLC is under pressure from the Treasury Department in four-way meetings that also include Fiat SpA and the Michigan carmaker’s union workers. Some Obama administration officials have apparently decided that Chrysler apparently isn’t worth the trouble of any more government assistance and that it may be headed for liquidation. Chrysler now faces a deadline at the end of the month to reach union and lender agreements on cutting costs. One possibility is for the government to force Chrysler into a Chapter 11 or even a Chapter 7 proceeding if restructuring details aren’t reached in the next ten days. Chrysler, already the beneficiary of $4 billion in government loans, is hoping to get another $500 million in working capital this month.

We should have let them liquidate?

Might happen anyway, but don't know if that would be the best choice of action. I think the thing people keep forgetting is that they have been given a $4 billion loan. Loan being the operative word here, and that makes us the banker. Any Banker / major stock holder that provided similar loans would be doing the same thing with them right now.

I don't know that it has anything to do with the fact that the bank is the government or not. The major difference is no other bank would have given them a loan.