Bailout Watch 317: "Statement Regarding Status of Federal Assistance to Chrysler LLC"

Robert Farago
by Robert Farago

Auburn Hills, Mich., Dec 31, 2008 – “We recognize the magnitude of the effort by the Treasury Department to complete these multiple financial arrangements quickly and sequentially. The discussions relating to Chrysler LLC have been positive and productive, and we look forward to finalizing the details of our financial assistance in the immediate future.”

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  • Bertel Schmitt Bertel Schmitt on Jan 01, 2009

    Translation: "We understand you are helping GM after waiting God knows how long. They got their money by direct transfer. Where is ours? Obviously, Chrysler is not your first priority. We get the feeling we have no priority at all. You are making up procedural problems that don't exist. JUST GIVE US THE GODDAMN MONEY! Do we have to refer you to Collections?"

  • No_slushbox No_slushbox on Jan 01, 2009

    Letting Chrysler die would be a late Christmas present to taxpayers. GM is a going concern, it just needs Chapter 11 to get rid of over $50 billion in private debt, 6 brands, thousands of dealers, and tens of thousands of excess union employees. I would like to see the Chapter 11 sooner rather than later, but at least GM is something. Chyrsler, on the other hand, is dead. They only employ about 50,000 people. They are nothing. Saving them is pure Cerberus kleptocracy. Flashpoint: You bought an Accord with your girlfriend's credit, but that's nice that you would like us to use our tax money to bail out some failed companies.

  • Jkross22 Jkross22 on Jan 02, 2009

    @Flashpoint: Name calling only hurts your case... referring to those who disagree with you as Toyota Republicans is silly. Since most people disagree with you, you are alienating people one would think you'd try to win over... or maybe not.

  • Jolo Jolo on Jan 02, 2009

    Didn't Chrysler say they were fine until the end of January 2009 and then things would get critical? GM got the cash because they said they would not make it until the end of 2008 (after saying for many months that they were fine through 2009). Chrysler did not have priority because they said they could wait. What happened, didn't figure the time and money that were available properly? That almost never happens...