Banks maybe holding up merger with FIAT.
Because the banks hold debt secured by collateral, they have the right to take Chrysler plants and assets if the company files for bankruptcy protection. That means they may be better off with what's left of Chrysler in liquidation than what they'd get if they agree to restructure the debt.
Read the AP story by clicking the following: Report: Banks balk at efforts to cut Chrysler debt - Salon.com
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