June 1st, 2009
08:53 AM ET
9 years ago

Obama weighs in on Chrysler

WASHINGTON (CNN) - President Obama issued the following statement Friday about the latest developments in Chrysler's bankruptcy case:

“The decision by Judge Gonzalez of the United States Bankruptcy Court for the Southern District of New York to approve the Chrysler sale transaction paves the way for the new Chrysler to successfully emerge from bankruptcy as a new, stronger, more competitive company for the future. Only a month ago, this great American company’s very future was in doubt. Now, as a result of a substantial commitment by the U.S. government, and tough sacrifices from all stakeholders involved, Chrysler has a new lease on life. We said this process would be completed quickly and efficiently, and that’s exactly what has been accomplished today. Tens of thousands of American jobs will be saved as a result of this extraordinary effort.”

Related on CNNMoney.com: Judge approves sale of Chrysler assets

Filed under: Auto Bailout • President Obama
soundoff (3 Responses)
  1. Dallas Independent - thank goodness

    Nobama is going to bankrupt America if he isn't stopped soon not to mention also how much he is endangering us against rogue nations.

    June 1, 2009 10:38 am at 10:38 am |
  2. Mississippi Mike

    I'm glad that Obama is so proud of the company he now owns. Now we can witness it's final destruction at the hands of bureaucrats and union cronies. This is the beginning of the end of capitalism. Hope you like it, comrades.

    June 1, 2009 10:58 am at 10:58 am |
  3. Osama Bin Laden

    Hmmm! Didn't Chrysler bankrubt 20 or so years ago and a German company bought them out after american tax dollars was once before piled into them. No way Josea this time should the American People be asked to bale out a defunct company. Let them fade into the past also along with GM. If it come down to only one manufacturer then maybe we can make them go green and sell cheaper cars that all people can afford instead of being in competition. Besides Japan is going to take the automobile industry out American's hands anyway.

    June 1, 2009 10:59 am at 10:59 am |