Chrysler Will Enter Bankruptcy, Partner With Fiat, Warranties Backed By US Government

Chrysler Will Enter Bankruptcy, Partner With Fiat, Warranties Backed By US Government

President Obama announced today that Chrysler would seek bankruptcy protection and enter into an alliance with Fiat. The president told reporters that a “small group of speculators” made up of hedge funds and other investors held out in the hopes that the US government would bail them out. That didn’t happen.