Chrysler Closing In on Saving Itself
 

News Alert
9:35 a.m. ET Tuesday, April 28, 2009
Chrysler Creditors Agree to Deal
The Treasury Department reached an agreement with Chrysler’s creditors late last night that may prevent the troubled automaker from going into bankruptcy, a source familiar with the matter said. The carmaker had owed a fractious group of 45 banks, hedge funds and other firms about $6.9 billion. These creditors have agreed to write down the debt to $2 billion, the source said.

$2billion is still a lot of money... hopefully they can do it but i'm not holding my breath