Posted 7:41 PM by steve

With Chrysler filing bankruptcy, can someone tell me just what was gained from the billions and billions of dollars we gave Chrysler? A handful of months in which Chrysler did nothing to turn its operations around? Some time in which Chrysler did nothing to restructure its debt? Time in which they did nothing to shrink the number of dealers? About all Chrysler did during the past five months was to negotiate some reductions with the UAW and persuade Fiat to come into the picture... not bad but not worth the money that has been wasted keeping Chrysler alive.

And lordy, lord, the markets did not fall through the floor and people aren't going crazy (okay, there is, but not because of Chrysler)... so just why were billions of dollars thrown away?

And finally, to those who bemoan that the 'UAW owns Chrysler and GM' now, it's been that way for a long time. GM and Ford and Chrysler management have been the UAW's b***h for years, ever since they proved themselves unwilling to take on the UAW in order to bring some semblance of order to the industry. Giving the UAW a piece of paper that formally acknowledges their ownership doesn't change the reality anymore than a gay couple heading off to get married changes the fact that they were married in all but name.