US CAR giant Chrysler filed for bankruptcy protection today as it was announced that a rescue deal with Italian firm Fiat had been reached.
President Barack Obama said the partnership would give the US' third largest car manufacturer a chance not only to survive, but to thrive.
But he also angrily hit out at a small group of hedge fund creditors who held out for an unjustifiable taxpayer bail-out for Chrysler, necessitating the move into Chapter 11 bankruptcy.
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