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Chrysler Filing For Bankruptcy

Wednesday, April 29th, 2009
Posted in Uncategorized by Joel Gross

Chrysler is supposed to be filing for bankruptcy either today or tomorrow. The company is no longer solvent and needs to attempt a Chapter 11 reorganization according to sources near Barack Obama. Apparently the US Treasury is offering $2.25 billion in taxpayer funds to have Chrysler’s lenders wipe out its $6.9 billion in secured debt.