Who knows whether Chrysler really will emerge from the “surgical” bankruptcy in 30 days. Our gut is that if the government is projecting something and it sounds too rosy, then it probably is.
Either way, the move into bankruptcy opens up Chrysler to more government cash. Lots more.
The AP, citing senior government officials, says the automaker will get $8 billion more in government aid to rebuild the company. Of course, the company was always going to get funding in bankruptcy from the government, since without it, they’d be headed straight to liquidation and that’d put too many workers on the street to quickly.