[MaestroLC]

The accomplishments of Obama's first 100 days continue to mount...

[jalisco555]

Bush should have done this. How many billions down the drain?

[Thane_Banquo]

The seeds of Chrysler’s and GM’s bankruptcies were sown decades before Obama came into office, when labor liberals decided to make it damned near impossible for a company to say no to any demand from a labor union.

[TSgt]

United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing...

I wish my 401K would have been protected...Can you spare a bailout brother?

[Petronski]

Smells like a Sunday night filing.

[Dedbone]

United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing

Since when are conditions a part of Chapter 11?

[Kansas58]

HUH?
How in the world can the petitioner, in a BK filing, dictate terms?

The pensions are protected by the Pension Benefit Guarantee Corporation. Besides, Pensions liabilities are supposed to be funded in advance of need, FAR in advance of need, so I do not see the relevance here. It is just Obama trying to act like he is doing something.

On the health insurance issue? This is ridiculous! Why should GM continue to fund an expense that does NOTHING for the current competitiveness of GM?

[ChicagahAl]

"United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing"

I find this heinous.

Let them get 22¢ on the $ like the bondholders. They've been overcompensated and underworked for years. It will average out.

[iopscusa]

Has the Treasury Department previously been involved in the preparation of a Chapter 11 bankruptcy? I thought the Justice dept. would be the likely place to file.

[kenth]

The Treasury has an agreement in principle with the United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing

---

How about Chrysler itself, did 0 discuss this with them at all? Or better yet, have they discussed it with the American people who are going to keep the UAW and by extension, democrat votes, flush with cash?

[Anti-Bubba182]

"..The only major question that remains unresolved is what happens to Chrysler’s lenders, who hold $6.9 billion in company debt. The government’s most recent offer, presented Wednesday, would give the company’s lenders about 22 cents on the dollar, or $1.5 billion, and a 5 percent equity stake in a reorganized Chrysler..."

That practically guarantees no private entity will be lending money to a reorganized Chrysler. The US is in the Car Business permanently if they want Chrysler to survive.

[MortMan]

The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler ...

Words fail me... Treasury - the GOSHDARN MOTHER-PUSS-BUCKET SUMNABATCH GOVERNMENT - is custom designing bankruptcy for a freaking company?!?

[Vaquero]

FUBO

[LizardQueen]

The UAW parasites have finally killed their host and are now latching on to the US taxpayer.

LQ

[TChris]

Chapter 11 is a good sign.

Perhaps they can slice off thick slabs of UAW fat from the business plan.

[DTogo]

The Treasury has an agreement in principle with the United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected...

Protect by who, the Taxpayer? Wonder if the bankruptcy judge could nullify this "agreement in principle" anyway.

If the taxpayer is on the hook any further just to support the UAW, there should be a nationwide tax revolt.

UAW = AIG

[tc45a]

The accomplishments of Obama's first 100 days continue to mount...

Chrysler was in deep do do way before obama was even nominated. As another poster mentioned they should have declared bankruptcy last year.

[PhiKapMom]

Why are the Feds preparing the paperwork and not Chrysler? That is not their job!

[Jim Robinson]

We the tax payers pick up the tab.

[kidd]

Since when does the Treasury department file banruptcy for a private company? This doesn’t smell right at all.

[bert]

The next day, it will be open season on the UAW. They must not be allowed to persist.