Chrysler, Fiat, Bankruptcy and Renewal: Can Fiat Win U.S. Over?

Chrysler officially declared bankruptcy last week amongst cries from various political parties and pundits over the whys and hows of the deal. Despite billions in government bailouts and massive cutbacks by the company–even the restructuring of agreements with United Auto Workers and several of Chrysler’s debtors–the company could not avoid the inevitable.

While blame is being thrown at hedge fund managers and nameless “investment bankers,” the real blame should lie with the Bush and Obama administrations, the Congressmen who agreed to the bailouts, and most heavily with the massive failures of Chrysler’s management over the past decade or more. Hedge fund managers whose interest lay in keeping your 401k and Roth IRA in the black are not to blame so much as the idiotic management decisions made by the Chrysler Corp’s leadership for the past decade.

Read more at Zoomilife.