All The News That Fits

Chapter 11 Filing Imminent for Chrysler

Posted by necessarygrace on April 30, 2009

From the Wall Street Journal, via Fox News:

Talks between the Treasury Department and lenders aimed at keeping Chrysler LLC out of bankruptcy broke down late Wednesday, making it all but certain that the car maker will file for Chapter 11 protection Thursday, according to people familiar with the discussions.

I’m not well educated in economics and I have had a heck of a time following the whole auto industry/bailout thing… But the Capitalist in me believes it has to be a good thing when companies are allowed to fail rather than continually throwing good money after bad.

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