Tuesday, Dec. 08, 2009
Chrysler's Bailout
Would you make a $4.7 billion loan to Chrysler? Of course you wouldn't; nor would any bank. But then again, if you're a taxpayer, you have. The $4.7 billion loan is just part of the more than $8 billion that has been pumped into the ailing automaker, now run by Italy's Fiat. The Italians could end up with 35% of the company if things go well. If they don't, taxpayers end up with 0% of $4.7 billion — which at this point seems the more likely scenario.