Items of Interest:
Micheline Maynard / New York Times:
Surgical’ Bankruptcy Is Set for Chrysler -- President Obama forced Chrysler into federal bankruptcy protection on Thursday so it could pursue a life-saving alliance with the Italian automaker Fiat, in yet another extraordinary intervention into private industry by the federal government.
Flanked by his automobile task force of cabinet secretaries and business advisers in the White House’s grand entranceway, Mr. Obama announced a plan that would allow the United Automobile Workers, through their retirement plan, to take control of Chrysler, with Fiat and the United States as junior partners. The government would lend about $8 billion more to the company, on top of the $4 billion it had already provided...
Room for Debate: Does the U.S. Need an Auto Industry?DealBook: Obama Announces Chrysler Bankruptcy PlanPeter Catapano / The Opinionator: Chrysler's Moment — Micheline Maynard of The Times reports …Myglesias / Matthew Yglesias: The Chrysler DealCharles J. Brown / Undiplomatic: Chrysler in Bankruptcy: The Forgotten VillainKrooney / The Page: Obama: Chrysler Going Bankrupt to RebuildFelix Dennis / THE WEEK News & Opinion: Chrysler's road out of bankruptcyEconomist.com / Democracy in America: United we stand (to lose)Steve Verdon / Outside The Beltway: Chrysler to File for Bankruptcy
Henry Blodget, Clusterstock:
With Chrysler in the Books, It's On To GM
Micheline Maynard / New York Times: A Primer on a Chrysler Bankruptcy
Alex Taylor III, Fortune: Is Chrysler Better Off Dead...or Alive?
Paul Ingrassia, Wall Street Journal: The UAW Is in the Driver's Seat
Statement From Non-Tarp Lenders of Chrysler -- As of last night’s deadline, we were part of a group of approximately 20 relatively small organizations; we represent many of the country’s teachers unions, major pension and retirement plans and school endowments who have invested through us in senior secured loans to Chrysler. Combined, these loans total about $1 billion. None of us have taken a dime in TARP money...
DealBook: A Road Map to a Chrysler BankruptcyAndrew Leonard / Salon: Obama: Chrysler's bankruptcy forced by hedge fund speculatorsJonathan Cohn / The New Republic: Five Letters. Starts with a Gr. Rhymes With Bleed.
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- Taking Economy’s Temperature via Newspapers - Nancy Miller, Big Money
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- The Real Culture War Is Capitalism - Arthur Brooks, Wall Street Journal
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