With everybody on board except a few hedge fund “speculators” who bought Chrysler debt at a steep discount, President Obama just announced that, despite trying to avoid a Chapter 11 bankruptcy (including offering these greedy bastards another $250 million at the last moment to avoid it), a bankruptcy restructuring was the only way to save the company and 10,000s of jobs.
Of course the hedge fund shills over at CNBC are whining and gnashing their teeth about Obama interfering in private enterprise, yada yada. But it’s not like the speculators didn’t hedge their bets on this— that’s why they’re called hedge funds— so someone is going to pay. (Hopefully it won’t be the American taxpayers again!)
Now, if Obama would just start treating the banks the same way…
Ha!
Seems someone at US added something to the photo.
Flipping on my green filter glasses, I think I see a little deconstructionist post-Detroit criticism here concerning the dependence of the internal combustion engine on its traditional fuel source– dinosaur shit.
As far as I know, Chrysler had never produced an electric or fuel call car, or even a hybrid…