AFSCME 3357-HOF'S BLOG

Businessweek: Chrysler in Standoff with Banks

Businessweek is reporting that Chrysler is in a standoff with its lenders on debt reorganization that is key to closing the Fiat merger and government aid. Much of Chrysler's debt is secured debt, and as such, the creditors would have a preferred position if Chrysler were to file bankruptcy. So far, Chrysler hasn't come up with terms for reorganization that are juicy enough for the lenders to give up their collateral.

Which brings us to our marginally relavent video clip. Since Chrysler is in bed with Fiat, and there's some lingering German presence, how about a clip from an Italian Western dubbed in German?