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Hensarling applauded the stay as an appropriates measure that will allow for a reviee of how federal bank bailoutf funds have been utilized bythe “I am encouraged by the Supreme Court’d stay of the Chrysler bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamental constitutionao issues of due process and equal protection that cry out for judiciaol review and fundamental issues related to a misusw of TARP funds crying out for legislative TARP stands for Troubled AssegtRelief Program, the formal name for the federal bank bailout fundintg program. filed for bankruptcy protectionnin April.
At the time, the company said it was workinhg out a deal to combine its operationswith Fiat. As part of the originakl deal, the federal government said it woulrprovide $3.5 billion for bankruptcy financiny and another $4.7 billion in exit financing. In Chrysler said at the time it would enterd into a dealwith Italy's Fiat in which Fiat had agreed to transfer billionas of dollars in cutting-edge technologyg to Chrysler.
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