Thursday, April 30, 2009

Chrysler is Dead. Long live Chrysler.

Bloomberg: "Chrysler LLC will proceed today with a Chapter 11 bankruptcy filing to reorganize into a more viable car maker, an Obama administration official said.
...The president’s staff plans to use the filing to pave the way for Fiat Spa to take a 20 percent stake in the Auburn Hills, Michigan-based automaker, people familiar with the situation said. If Chrysler has to go through bankruptcy, it won’t take long, Obama said yesterday.
“It would be a very quick type of bankruptcy, and they could continue operating and emerge on the other side in a much stronger position,” Obama said
. "

As the bitter taste of irony settles from Fiat taking stake in a Fascist car maker, there's some notables here.

The automobile 'bailout' (read:takeover) George W. Bush gave the automakers was to prevent bankruptcy.

The automobile 'bailout' Barrack Hussein Obama gave the automakers was to prevent bankruptcies.

The automobile 'bailouts' have failed.

It has been demonstrated ad nausem by arrogant men in history that a fiat government cannot run private enterprise, nor are they conducive to free enterprise. This is yet another ringing example in an increasingly noisy bell tower, an echo chamber of destroyed liberty.


Gino said...

given how all this is transpiring, maybe chrysler should just change its name to "Fiat".

Palm boy said...

Seems to be going that way.