Dealbreaker Afterhours: Chrysler Headed To The Suck

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One of the disadvantages of taking strong positions on economic events before the fact is the credibility sink one is subjected to on the flip side. Ouch. Failing one's predictive tasks as an asset manager is a potentially career limiting mistake. Missing a call as a gambler is expensive, even dangerous- at least to limb if not also to life. But missing a call while occupying the Executive Branch of government of the United States is a different matter all together. Now add the detail that your office was actively leveraging the rather substantial resources of the Executive Branch in pursuit of the effort and you have a bit of a problem. You either have been making a show of it, or your office is far more impotent than it appears. Neither outcome is desirable.
The solution, of course, is not to publicly intertwine yourself in industrial policy with such visible and unbridled enthusiasm unless you have matters well in hand. With J.P. Morgan Chase leading the creditors, 90 minutes of discussion before voting wasn't enough time to tip the hands in favor of the latest deal. It wasn't even close. It should surprise no one that once an outsider (Fiat) was introduced into the mix the subsidized and coddled "avoid Chapter" process was split wide open.
Can we please... please move on?
Chrysler Chapter 11 Is Imminent [The Wall Street Journal]

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