I didn't say they were currently in bankruptcy. They filed Chapter 11 in 2009 in order to be restructured. Then they sold out. On June 10, 2009 an entity known as The New Chrysler Group bought Chrysler from Chrysler LLC for $6.6 billion which was financed by the American tax payers (U.S. government). Initially, the percentages of equity ownership in Chrysler Group LLC are: Fiat, 20%, U.S. government (Us the taxpayers) 9.85%, Canadian government, 2.46%, and the UAW retiree medical fund 67.69%. This makes the $12.5 billion strengthen my argument that they should have simply been allowed to go under.
Reality Check wrote:
What about the 1.6 billion we loaned to the old Chrysler which is now in bankruptcy?