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BUSINESS NEWS UPDATE
Self-Proclaimed US Largest Top Experts on Economy with hundreds written books on this subject again and again had declared month after month, that Recession is over
It is strange , because Largest US automakers Chrysler and General Motors are just now went into BANKRUPTCY. It is not because they did not produce good cars like Jeep, Cadillac
It is because Chrysler and General Motors went together with BearSturns,LehmanBros, GoldmanSacs into business of buying and selling Subprime mortgages,other investments.
Chrysler and General Motors before bankruptcy were structured for ... making money
Yes, manufacturing of cars had become Chrysler and General Motors secondary business function.
Chrysler and General Motors Top management needed manufacturing of cars to make PROFIT for raising Capital to do Stock Market speculations.
In real life nobody including Chrysler needs FIAT to make good cars. Chrysler always made profit.
In fact General Motors are not looking to sell themself to some company like FIAT.
Our Experts already mentioned before,that Bailout Billions dollars handouts to Chrysler and General Motors went through them to their major Creditors like Bank of America,JPMorganChase,Citygroup.
It is because Subprime mortgage Assets Divisions in Chrysler and General Motors are gone BAD like in each and every Investment Bank.
BANKRUPTCY gives Chrysler and General Motors opportunity to do RESTRUCTURING and get RID of Subprime mortgage Assets Divisions,Internal Investment bankers,other NON-classified establishments,that wasted all made by manufacturing of cars PROFITS.
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