This is $8 billion flushed down the toilet

maserati

Probably more: those hedge funds most likely bought CDS from AIG (who else is dumb enough to do it?) which means AIG will turn around ask US government for the money.

US Government Will Lose All $8 Billion It's Given To Chrysler
Joe Weisenthal|May. 5, 2009, 7:59 AM|10

The fact that Chrysler is going through Chapter 11 bankruptcy is in itself a form of bailout, since the government is providing the financing for the bankrupt company. Without Uncle Sam, no private investor would throw fresh cash into it, and it'd be a liquidation case. Game over.

But don't think that you, as the taxpayer, are getting any kind of senior position here.

In yesterday's initial court hearing -- which included the colorful revelation that the hedge fund holdouts had received death threats -- it was revealed that the financing is being offered interest free and that the government doesn't expect to get any of it back. That's $4 Billion in loans made in January and another $4 billion in DIP.

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1# maserati

aig is dead. c may be alive. feel big agenda behind c.