This WSJ article points out issues with the debt to equity swap purposed for Chrysler's bondholders. The current administration believes that the banks holding debt are receiving more value than they should (in other words, they've attempted to minimize their loses in this case. ; -)
If the banks in question are receiving TARP funds and the automaker in question is receiving government loans also, how much say does the government have in the process? Could the demands of the administration block a potentially hopeful resolution of Chrysler's situation? Stay tuned . . .
Wednesday, April 22, 2009
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