JP MorganThe Banks Forces Chrysler into Bankruptcy
The UAW was willing to negotiate, but the banksters weren’t. So Chrysler will now enter bankruptcy.
The Obama administration will announce at noon today that it will take Chrysler LLC into a historic bankruptcy to force a cut in debt key to a partnership with Fiat S.p.A. after three firms refused a sweetened offer.
With the UAW late Wednesday ratifying cost cuts in its contract and cuts in the money due its retiree