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Summers: Fiat-Chrysler talks still up in the air
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Published: April 26, 2009
WASHINGTON - White House economic adviser Larry Summers is holding out hope that Chrysler can stay out of bankruptcy court.
Chrysler LLC is surviving on government loans and has until Thursday to work out a joint venture with Italian automaker Fiat Group SpA.
Summers says the Obama administration will do its part to help the Chrysler-Fiat talks end successfully. But he says it's clear that companies cannot rely on cash from the government permanently.
He says some bankruptcies are not about liquidation, but involve legal changes that protect a company and enable it to function more effectively.
He appeared on "Fox News Sunday."
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