May 5, 2009

MORE REVELATIONS FROM THE CHRYSLER BAILOUT TAKEOVER: “Buried in the Chrysler filings was the revelation that US government investments in Chrysler will not be paid back, though the government will probably take an 8% equity interest in Chrysler. . . . David Yermack wrote in the Wall Street Journal last fall that it would have been better if the government had simply written a check to each worker — or even just burned the money.” Seems prescient now!

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