"That's Not the American Way": Chrysler's Bailout and the Road to Ruin

This is contract law that Obama is sending his goons squad out (great training he got as a community organizer in Chicago.. that's what they are .. a shakedown organization along with ACORN)... he sends out his goons squad to get the SECURED DEBT to back off... Unbelievable... Obama is nothing more than a thug .. SECURED DEBT is NOT secured anymore.. UNBELIEVABLE... hope and change you bozo obama voters... hope and change

If Chrysler had declared bankruptcy 6 or 8 mths ago, the shareholders of the other of the BIG 3 would be tearing their hair and wondering when the bottom was going to fall out and all 3 would soon go "belly-up". But when??? It would have been a question not easily answered. Would the BIG 3 ALL fail. That, and many other questions, would pave the way to where we are now. Kenneth G, Smith

Yeah right Davidowitz, and you certainly ain't the American Way either. The Chrysler bankruptcy was and is a highly complex matter involving thousands of factors and considerations. Certainly there are many tradeoffs, but ultimatley it was/is a matter of what the least bad options. Just as one example, some of the so-called secured bond holders were vulture investors who purchased Chrysler bonds for perhaps as little as 10cents on the dollar on the junk bond market. They were offered 29cents on the dollar by the government. Furthermore bankruptcy is complex, the judge has absolute power, and the majority of the large secured creditors had already agreed to settle, so it is almost inconceivable that the bankruptcy judge and bankruptcy law would have allowed these other small secured bondholders to disrupt the other stakeholders anyway. Rambling mouthoffs like yourself do nothing, except misrepresent the big picture, and thereby make the situation even worse with your simplistic crap.

Another major war looming. Now Russia is willing to "do battle" for the oil under the ocean. How come they, the Russians cannot be saying we are almost ready with the next vehicular transportation

American capitalism wants American worker to be competitive with the third world worker, it means to live in a carton box on two caps of rise a day. It’s interesting approach to high living standards, or maybe high living standards are for bailed out financial heads only? How do you expert those workers to spend-spend-spend to support economy. Chrysler is inefficient company. It can not efficiently throw out 90% of its workers to be able to shrink in response to burst of grown out of any reason production and consumption. Hard to expect any thinking person will not curse USA with its "way" after insane financial demand caused over production of houses, that caused huge damage to world forests and other resources, and the houses are put under bulldozer by the bailed out financial institutions now.

Chrysler was robbed by a hedge fund taking it private. Now to say that the complicit creditors should be able to rob the company in bankrupcy - when its pension is not topped up - ridiculous !! I'm sorry, the Chrysler pension funds are the 1st in line. Secured creditors are 2nd in line. Stock holders are third. Everyone else (including management) should be fourth! And all you idiots who think otherwise, you're on the road to ruin if you think you can "dump" your employees on social security in this way !! Bush Capitalists need a spanking !! These Bush capital

I like Howard, but I disagree with him here. No government in the world would let the large manufacturing base represented by GM and Chrysler to collapse. Forcing GM and Chrysler to restructure, and to become more effecient is the way to go. Howard forgets that GM and Chrysler can be restructured to become more effecient so that they can indeed survive. Why let more effecient foreign auto manufacturers come in and fill the vacuum left behind by GM and Chrysler? Howard is plain wrong here.

there's a lot of hate going on tonight

They're all PsOS.. Obama, Bush, Clinton, Bush....and all their minions oin Congress, Senate, etc. etc. All big govt Lawyer cronies who SCREWED Americans by allowing a country where a person could SUE Mcdonalds for them getting FAt!!? Sickening. This is the country where through incredibly good times ran deficits EVERY F*&ing year!!! why? gready politicians and lawyers! we have a rolls-royce medical system because of technology and defensive medicine, and noone with the guts to say: "It's too expensive to give you this care at age 65!!! Retirment should be age 75!!!! Now!!! maybe even 80!!!!

Yahoo! Finance User, They can't produce cars that run on air because than another thouthand of American oil companies will need a bailout. :-D

What are Bush Capitalists?

What is a Bush Capitalist?

john c - 1 word === spellcheck

Next he will take away your guns so you will have no choice but to do what your great leader says!

What is the real story with Chrysler? I thought it was a healthy company before the Daimler people took it over and ran it into the ground. People making lousy overpriced Wall Street carts should not be allowed to drive good companies into the ground. Were's 'Dr. Z?' US government could have nationalized the pension burdens and let GM and Chrysler get back to making real cars. And keep CEO's that spend too much time putting their face on advertisements away from US business.

i work at a toyota dealership. people bought a few hybrids when gas was $4+/gallon. now you can't sell a hybrid. people just don't want them.

task...i told you before, you go'tta get over the election.

Ok Guys!!!!!! Have you forgotten about the Chrysler bailout that occurred in the past????? I do believe it was called a Government loan and it was paid back. Where were you when that happened??? I will say this with some reservation, but it is done, now get over it and get on with your life. If you are not happy, find another country to live in.

There are about 5 morons who wrote up here.....the first about the electric cars...duh--read the SUV response...AND THE PEOPLE INCLUDING DAVIDOWITZ(who i dont like either--but who cares??) who are saying that EVERYTHING GOING ON is ANTI-CAPITALIST and OBAMA is a socialist thief ARE CORRECT!! HE is a socialist!! I saw it from a mile away and all i can say is I TOLD YOU SO! To all those idiots who voted for him based on social views and not the issues that are going to shape our country over the next 10-15 years. Socializing healthcare? I dont know where to begin.....its sad that only liberals who don't understand the facts are the only people who protest...because there should be americans across the country protesting the crimes that this administration is committing.

we're all going to be farmers? great analogy...