The Detroit News reports that Senator John McCain (remember him?) has declared Chrysler unlikely to survive. Mr McCain, who was serving as grand marshal of the NASCAR Sprint Cup series race at the Phoenix International Raceway, even went as far as to argue
No, I don’t think we ever should have bailed out Chrysler and General Motors. We should have let them go into bankruptcy, emerge and become viable corporations again. It was all about the unions. The unions didn’t want to have their very generous contracts renegotiated so we put $80 billion into both General Motors and Chrysler, and anybody believes that Chrysler is going to survive, I’d like to meet them.
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