The bankruptcy is to clear out remaining debt from several hedge funds that didn't want to negotiate. Chrysler and Fiat are signing the partnership deal later today or tomorrow.

I'm not sure if the hedge funds screwed themselves - I don't know much about that business. But I would think they looked at all angles before playing chicken with the fed.

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma