That Chrysler Situation

Click on the above title to see a fascinating article on the Chrysler deal. What I like about this article is that presents the facts clearly so you can understand what happened. And it is from a paper in the UK! I am not an economist or a business expert but even I get that when investors are forced to sell their assets for pennies on the dollar they might want to hold out for a better deal. Can anyone really be surprised at that? And who knew that the day would come when bankruptcy would be considered a good deal? Is anyone else out there as chilled as I am at the prospect of this massive government buyout of a major US corporation? What happens now? Will the government force us to buy whatever cars this company produces even if they are lousy cars, just to keep the company in business? We are edging ever closer to all out socialism in this country. Once we go there it will be very difficult to return.