In the end, the Chrysler hedge funds can't be too surprised at
how politicized and tilted the Chrysler bankruptcy became.  Just
a few months ago, there was an obvious precursor to this event.
Anyone remember Republic Windows?  That was the Chicago window
factory that almost shut down in December after its lender, Bank
of America (BAC) refused to extend it any more credit. The
workers staged a sit-in and Rod Blagojevich (just days ahead of
revelations that would end his political career) said that
Illinois would stop doing business with BofA unless they
relented.  In the midst of a crisis caused by bad loans and
over-extension of credit, the public was furious at a bank for
exercising stringent lending standards when it there was obvious
pain to organized labor.  In the end, BofA relented, in a move
that was hailed as a "win for the little guy".  But the message
was clear: If you're a lender, don't even think about not giving
in to a company with a strong blue-collar presence. And if
you're labor, then howl l