The Obama Administration was gung ho to brag about the GM IPO last year. But if I’m not mistaken, this is the first time the White House has bragged nationally about jobs created thanks to the auto bailout (Ron Bloom, who got promoted into an official Assistant to the President role at the beginning of [...]

I wanted to return to a detail I mentioned in yesterday’s book salon. As I noted, in his book on the auto bailout, Steven Rattner described Citi as being worried during the Chrysler negotiations that retail customers would retaliate if Citi played hard ball. Bankers for Goldman and Citi had advised [JP Morgan Chase VP [...]

Eric Kleefield uncovers a heap of hypocrisy in IN Senate candidate Dan Coats’ lobbying record, but he misunderstands what it means. Former Sen. Dan Coats (R-IN) is running for his old Senate seat, apparently on a platform of opposing government takeover of the private sector. But as it turns out, in 2008 he lobbied the [...]

With the quick corporate profit vultures and Wall Street wizards flailing about at GM for immediate returns; Bob Lutz, the last real car guy left in key management, walks away.

Yes, as we suspected, Bush punted on the auto crisis to leave the problem for Obama. But curiously, he did not punt on the auto finance crisis.

Obama announces success with Chrysler, doubles down with GM.

The UAW was willing to negotiate, but the banksters weren’t. So Chrysler will now enter bankruptcy.

The Obama administration will announce at noon today that it will take Chrysler LLC into a historic bankruptcy to force a cut in debt key to a partnership with Fiat S.p.A. after three firms refused a sweetened offer.

With the UAW late Wednesday ratifying cost cuts in its contract and cuts in the money due its retiree

Chrysler’s creditors are making fantastic claims about what they can get for Chrysler in bankruptcy. I wonder if that’s a tell about how much they’ve gambled on Chrysler’s failure?l

In addition to pushing Chrysler into bankruptcy, JPMorgan Chase was selling some awful gimmicks to local governments.

JP Morgan Chase is working to put 300,000 people out of work–many of them in Michigan. But lucky for JP Morgan Chase, it has the contract for providing Michigan’s unemployment benefits by debit card. So it still stands to make money off those unemployed Michiganders after JP Morgan Chase causes them to lose their job.