It was a sad day yesterday when I saw that Chrysler went Chapter 11. I remember the first time When MR. Iaccoca went to DC got a loan and turned the company around. That was a great moment and a great partnership between Government and Business. Yesterday was just a sad event.
In the end the saddest part may have been the Hedge funds that would not come to agreement over a settlement to keep Chrysler a float. The President looked genuinely pissed off. In the end I think the hedge fund managers greed and short sightedness will prove this victory to be Pyrrhic in nature.
Remember you can't fight City Hall and it isn't a good thing to poke a tiger. These Hedge fund guys did both. I await the fallout .