Chrysler has declared bankruptcy today. While this is a technical maneuver, it still represents the failure of another U.S. relic. The sad part is that Obama decided to bail out this company which was taken private by Cerberus, which then appointed the former Home Depot Money Guzzler Robert Nardelli as CEO. In this Obama bailout, the Nardellis of the world come out making millions, for almost no productive work. Many workers lose their jobs. Obama would have been better off just letting this entity disappear.
Thursday, April 30, 2009
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