NPR

Listening and reading the National Public Radio, I heard an interesting story. President Barack Obama announced that Chrysler would be heading into bankruptcy with the aid of another 8 billion, that's right, 8 billion, dollars in taxpayer money. He stated that this shouldn't be seen as a weakness, because he believes that Chrysler will come out of this stronger. The Obama administration doesn't plan to manage the corporation, however, Chrysler is signing a partnership with an Italian company named Fiat.

This bankruptcy does not mean that the company will be shut down. What chapter eleven bankruptcy does is that it allows a judge to decide how much the company's creditors would receive. Obama stated that Chrysler has helped the middle class of America. He also stated that the company had moved too slowly to adapt to the future. The company continued to make cars that were just not as good, meaning not as efficient and less popular, than other foreign car makers. Chrysler is a very popular car company in the United States, and I don't believe the government would allow it to go under because so many jobs would be lost, not to mention the number three automaker in the country.