car_guy

The Administration Doesn't Like What GM and Chrysler Have to Sell

The administration is walking the fine line between destroying consumer confidence in the company (what is left of it) and putting enough pressure on the bondholders to get them to move. The 'quick rinse' terminology should scare the heck out of them since I assume they would be rinsed. The tone for Chrysler is expected since the administration doesn't want to be seen bailing out Cerberus.