On Thursday, President Obama announced Chrysler would be merging with Fiat and going through a 60-day Chapter 11 bankruptcy process. Will the bankruptcy court rubber stamp Obama’s plan or exercise some independence? Why do some see this as a sweetheart deal for labor unions? What is the real story behind Obama’s slamming of bondholders and hedge fund managers who are not going along with his plan? And why is the merger with Fiat more disturbing than it is reassuring? We ask John Berlau, director of the Center for Investors and Entrepreneurs at the Competitive Enterprise Institute.
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