January 7, 2009

Is there no end to bailout creep and the many ingenious ways that US car makers and others are hatching fresh ideas to access federal bailout funds, government subsidies, loans and any other kind of public aid?

In the latest brazen attempt to double-dip into public coffers, Chrysler — barely before the ink dries on its $4bn bailout cheque received last Friday — has stepped up talks about changing the “status” of its Chrysler Financial unit in a way that will enable it to tap the federal troubled assets relief programme and other sources of credit.