In his address a few moments ago on the auto industry, President Obama announced that GMAC will handle wholesale and retail financing for Chrysler.
Chrysler Financial would have needed more funds than the administration was willing to shell out to make it a viable entity, Obama said.
I think it’s important to have a single company managing Chrysler floorplans, but do we have to assign a single company to handle retail loans? It seems to me that opportunity should be made available to any financiers who step up to the plate.
