JP Morgan Chase refuses to do what it takes to save 300,000 jobs and the healthcare of 700,000 retirees. So I decided today to no longer be a part of that. I closed my Chase account.

If Chrysler goes into bankruptcy rather than merges with Fiat, it may mean 210,000 additional jobs lost.

The WSJ confirms what we’ve all probably suspected: the creditors that are forcing Chrysler into bankruptcy are the same banks that have been surviving only with the help of the federal government. And of course, they are refusing to offer the same generosity to Chrysler.

Banks that loaned Chrysler LLC $6.8 billion are resisting government pressure to swap more than $5 billion of that for stock to slash the car maker’s debt,

As they were in November, December’s sales stunk. But some manufacturers didn’t stink as much as you’d think.

George Bush has said that he gave the auto companies loan money so as not to dump the problem into Obama’s lap.

But that’s a lie.

Apparently, no one knows what the fuck is the role of Cerberus in Chrysler’s $4 billion loan.

Who is paying Bob Nardelli’s salary? And to do what? And is it possible that he was left out of negotiations on the bridge loan, even while Chrysler will own the responsibility for paying it back?

Cerberus appears to be seeking to capitalize on the woes of the auto industry to do two things: first help its Republican buddies break the UAW, and after doing so, pawn off its unwanted “investment” in Chrysler onto the same union. I’m not sure I understand all the steps in this process, yet, but here are three data points.

Cerberus Protects Client Retirees But Not Chrysler Retirees

Let’s start with Cerberus’ statement

Chrysler will shut ALL manufacturing plants for a month.

The NYT carries Bob Corker’s water in claiming that the UAW didn’t make adequate concessions to get a bill passed last night. But that’s as absurd a claim as suggesting that it’s the fault of your local car dealer for not making concessions.