Government
Jan. 9, 2013
Did the US 'take' dealer franchises with TARP?
Under the dealers' theory, the U.S. orchestrated Chrysler's termination of their franchises when it provided the automaker with billions in public TARP funds. By Jonathan Michaels
To be sure, September 2008 was a pure financial mess. Toxic credit default swaps and irresponsible subprime lending created an unsustainable housing market that served as the underpinnings of the day's economy, and when it all collapsed - as it had to - Wall Street's biggest and brightest were caught drowning under the weight of their overstated balance sheets. The nation gasped as the 150-year-old Lehman Brothers tumbled into bankrup...
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