Hedge funds not happy with Chrysler bankruptcy filing
The Chapter 11 Bankruptcy filing by Chrysler has not been welcomed by the private hedge funds that hold over 1 billion dollars worth of debt papers issued by the car giant.
Obama was direct in blaming these hedge funds for forcing the bankruptcy on Chrysler. The funds have opposed the sharp attack and said that they were only seeking to get a fair deal similar to what Fiat and other stake holders are getting.
Whenever economic conditions worsen, the US politicians love to take a dig at hedge funds and big oil companies, which is being sincerely followed now also.
Post the restructuring, the US FED will hold close to 7% of the equity of Chrysler.