Chrysler's road out of bankruptcy

President Obama’s announcement that Chrysler will declare bankruptcy “isn’t as bad as it sounds,” said Matthew DeBord in Slate's The Big Money. Chrysler won’t “face liquidation,” and Michigan won’t face “an unemployment cataclysm.” This just means that Chrysler, which has been in de facto bankruptcy for months, will have some breathing room as it tries to climb back with the help of government cash and a new partner, Fiat. Full Story »