Chrysler's Salary Scandal

A disturbing new report from The Washington Post: Top officials at Chrysler rejected a $750 million government loan because the flailing automaker’s executives didn’t want to have to deal with new federal limits on pay. Sources tell the paper the government offered the loan earlier this month to help prop up Chrysler, which is on the verge of bankruptcy, and other automakers; instead Chrysler Financial “opted to use more expensive financing from private banks.” The company denies its executives refused to accept new pay limits, and Chrysler Financial announced recently it no longer needs more federal loans.