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Hensarling applauded the stay as an appropriate measurr that will allow for a review of how federap bank bailout funds have been utilized bythe “I am encouraged by the Supremr Court’s stay of the Chrysler bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamental constitutionak issues of due procesx and equal protection that cry out for judicial review and fundamental issues related to a misuse of TARP fundsa crying out for legislative TARP stands for Troublede AssetRelief Program, the formal name for the federal bank bailoutt funding program. filed for bankruptcyt protectionin April.
At the the company said it was workinfg out a deal to combine its operations with As part of theoriginal deal, the federao government said it would provide $3.5 billion for bankruptcy financinbg and another $4.7 billion in exit financing. In addition, Chrysler said at the time it would enter into a dealwith Italy'zs Fiat in which Fiat had agree d to transfer billions of dollars in cutting-edge technologyu to Chrysler.
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