Presidential Remarks on the Auto Industry
President Obama announced that Chrysler had met conditions for additional federal money to keep the troubled automaker from failing, including an… read more
President Obama announced that Chrysler had met conditions for additional federal money to keep the troubled automaker from failing, including an alliance with Italy’s Fiat. The conditions also included an agreement to file for a government-backed bankruptcy. In his remarks he criticized a small group of lenders including hedge funds and other financial institutions that turned down administration loan-reduction proposals, forcing the automaker into bankruptcy. close
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