Chrysler files

[ragswl4]

Just a few more thoughts, then I'm done.


Whether Chrysler should or shouldn't go into Chapter 11 is an unanswered question, but my point is that everybody except these minority hedge fund guys were willing to agree on a deal that arguably would have left the company and the industry and maybe the region and country better off. In their public statement about the issue these groups insist that they are first in line to be paid as "senior investors", so it will be a big battle in bankruptcy court.

I guess I just don't have too much sympathy for their position as opposed to the other interests involved.

I think the Chaper 11 decision has been made. Show me a bank, company, mutual fund, or investor that is concerned about their region, industry or the country and not their profit line. I think it will be a very small list. They all got really concerned when they began to go under and looked to big brother to bail them out. Chrysler had a chance to do it on their own and couldn't get it done. Blaming others just shows they don't get it. I for one am glad to see that a group (Hedgefunds in this case) stood up to the government and are following their own view of what's the right thing to do. (Even if it isn't)