6/08/2009

"U.S. Pushed Fiat Deal on Chrysler"

Here is why the Indiana pension fund case that Indiana Treasurer Richard Mourdock is pushing is so important. If they can get to discovery, they will finally get to the bottom of much more of this. Having the Supreme court grant a stay is just the first small step in the process.

WASHINGTON -- The Obama administration rushed an alliance between Chrysler LLC and Fiat SpA despite Chrysler's worries about Fiat's financial health and its willingness to share technology, according to internal company emails.

The emails show Fiat ignoring requests for documents and trying to change contract terms late in the talks. A Chrysler adviser at one point said the deal risked looking as if the U.S. auto maker and the Treasury Department, which helped broker the pact, were "in bed with a shady partner." In another note, an official referred to the Treasury Department as "God." . . . .

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