The Treasury Department is preparing a bankruptcy filing for Chrysler as a matter of “due diligence,” Senator Debbie Stabenow, a Michigan Democrat, said yesterday in an interview.
“This is very serious,” she said. “We’re coming down to the deadline.” She was among 10 Democrats from the Michigan congressional delegation who met April 22 with Emanuel and Larry Summers, director of the National Economic Council.
Chrysler, surviving with $4 billion in U.S. loans, must win concessions and create the alliance with Turin, Italy-based Fiat to qualify for as much as $6 billion more in aid.
Labels: Politics
¶ posted by Hobie 4:15 PM
Subscribe to
Posts [Atom]
