So Now Bankruptcy Is OK for Chrysler

So now bankruptcy is OK.

Now going under is OK.

Now talking about a formal filing to get your debts in order is OK.

Now going through a well-established legal process is OK.

It's all OK.

Even though just a couple of months ago, it wasn't OK. The president said it wasn't OK. Nancy Pelosi said it wasn't OK. Even mentioning the word bankruptcy wasn't OK.

Because merely uttering the "B Word" was all but screaming the "D Word": depression.

That was then, when auto companies were pitching for cash. That was Washington, when that was the pre-condition for getting that cash. We'll fork it over, if you don't go under.

Now, lo and behold, Chrysler is going under. “Temporarily,” it says. “Hopefully,” the president says. “What the heck!” the average taxpayer says.

A pity we're just finding all this out now. Something that was never, ever, ever considered an option back then. Something we committed billions avoiding back then.

Yet here we are now. After spending money we didn't have on a company, in the end, we didn't save.

Chrysler's decided the markets will determine that. It'd been nice to know months ago they were considering that.

Before they fooled us and drained us and lied to us after all the spending. And now... we’re all just spent.

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