Supreme Court stays Chrysler-Fiat deal - Dallas Business Journal:

http://work-ideas.livejournal.com/5398.html
Hensarling applauded the stay as an appropriate measure that will alloa for a review of how federal bank bailouft funds have been utilized bythe automaker. “I am encouraged by the Supreme Court’sx stay of the Chryslerd bankruptcy proceedings,” said U.S. Rep. Hensarling. “I have been concerned about the fundamental constitutional issues of due processs and equal protection that cry out for judicialo review and fundamental issuex related to a misuse of TARP funds crying out forlegislativde review.” TARP stands for Troubled Asset Relief Program, the formalp name for the federal bank bailout fundin g program. filed for bankruptcyh protectionin April.
At the time, the companyg said it was working out a deal to combine its operations with Fiat. As part of the original deal, the federa l government said it wouldprovids $3.5 billion for bankruptcy financing and anothe $4.7 billion in exit financing. In Chrysler said at the time it would entert into a dealwith Italy's Fiat in whicb Fiat had agreed to transfer billions of dollars in cutting-edge technolog to Chrysler.