So it happened. the first of the big three auto makers went out and declared bankruptcy. If you don't believe me that's fine it's already legitimate news; the secret's out. Wait! Chrysler is still selling cars, trucks and vans, they can't be be bankrupt. In fact they just launched an add campaign detailing how they don't build cars they actually build life. Yeah, I've seen that one too, it's very nice and flashy and it really puts an idea out that they may be more than just a car company. They're still bankrupt!
So how is it that Chrysler is still operating as normal? That's where the real fun starts. As it turns out in the U.S.A. the government stepped up to not only funnel them cash to operate but also to guarantee their warranty program, in the meantime Chrysler will continue to function as a normal company just with the government paying their bills. The funny part here is Chrysler is still going to maintain their status as a private company.
WHAT THE SHIT?
IF you or I were to declare bankruptcy tomorrow it would mean all of our bills were put to an end yes, however we would not be able to own property, business, or large financial assets of any kind for at least 7 years. All credit cards would then be void and for another 7 years you couldn't even apply for any kind of credit; and even after that time good luck getting credit from ANYONE. On top of all that any tax returns filled would be under the strictest scrutiny. All this and a slew of other bad things happen to people and small business owners who declare bankruptcy, their lives are effectively under government scrutiny and control. So why then is Chrysler not becoming a publicly owned company? Look at North American politics and their hatred of all socialist practices for that one. Well all publicly owned things that aren't fire, water, police, mail. and if you live in Canada health care. You know, just the important things but apart from that we won't have any part of any socialist ideals.