Politics

Oh, and by the way, the Obama administration is in a lose-lose situation again.

They're blaming the Chrysler bankruptcy on "predatory hedge funds." Well, maybe that will stick. But the truth of the matter is that pension funds and mutual funds hold most of the Chrysler debt. And they will cry "foul." The UAW is trying to get a better deal. Maybe they'll get it, and maybe they won't.

But mark my words, the Chrysler bankruptcy won't be quick or easy. If the administration gets their deal for the union, then investors will flee union companies. And if the investors win, they may just have to liquidate the company and shut it down. Who wants pissed-off workers?