The White House, auto executives and union representatives were all able to come to an agreement last week to keep Chrysler out of bankruptcy. But the car company's creditors -- Wall Street banks and hedge funds -- refused repeated compromises and drove the company under.
The refusal doomed a major American auto company to bankruptcy, but it may have been a smart business move for the lenders.
Many of the Wall Street firms holding Chrysler bonds may also own credit default...
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