-Chrysler Filing Chapter 11 Bankruptcy anyway

Chrysler, who has already been given 17.4 billion of your taxpayer dollars ($17,400,000,000), has decided to file chapter 11 anyway. It seems that the government cannot save everyone after all. Maybe if they had just filed bankruptcy in the beginning, cut the fat, and restructured like any other business would have to do, then we would not have had to basically waste all that money on them.

Obama could not save them. Even after "requesting" Chrysler's CEO Rick Wagoner to resign, apparently the government couldn't do quite enough. Maybe the new administration and we the American people should keep this in mind when saying that the government is the only thing that can save the banks, housing market, other car companies, health care, etc. etc.

UPDATE: President Obama said that this would give Chrysler a "new lease on life." Take that as you will.

Sources: CNNmoney, FOXnews