Document Type
Article
Publication Date
1-2010
Abstract
The interesting issue in Chrysler is not the lawyers’ manipulation of the law; it is the politicians’ use of the bankruptcy to launder money. Had the President simply announced that the federal government would give $4 billion to the UAW, the public, even the public in the UAW’s home state of Michigan, would have been up in arms. By laundering the money through the Chapter 11 process, the administration disguised the payment and avoided the outrage.
Recommended Citation
White, James J. "Chrysler's Bankruptcy: Money Laundering on a Grand Scale." Law Quad. Notes 53, no. 1 (2010): 64-5.