one more nail in the Chrysler coffin

Chrysler Death Watch continues as Chrysler fails to raise $6B out of $30B it needed, even at 2.25% above LIBOR.

2.25% above libor (currently at 2.4%) is getting pretty close to what you and i pay to borrow money. for a corporate giant to not be able to borrow money at this rate indicates a good bit of fear that Chrysler may not be able to pay it back.

this is what happens when you build inefficient unreliable trash (except for the magnum and 300c, both beautiful, and both are rebodied Mercedes e-classes) that nobody wants for 30 years then lend money to people who have no chance of paying you back.