Rescued Banks Balk at Debt Forgiveness for Chrysler

Obama's auto task force recently told four banks (J.P. Morgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley) to forgive $7 billion in debt Chrysler owes to them. The banks view this as unfair and have so far balked at meeting the request. This is in spite of the fact that these four banks have received $90 billion in federal bailouts combined. The gall and hypocrisy these banks are showing is enough to make you tear your eyeballs out. This is just more proof that the government should have nationalized the banks.