Report: Nardelli almost sold Chrysler to U.S. for $1
According to Rattner's book, Steve Feinberg of Chrysler parent company Cerberus Capital offered the carmaker to the treasury department for $1. The treasury thought the offer was a joke, partially because Feinberg made the suggestion to Treasury Secretary Henry Paulson during a 2:00 AM phone call. Less than a month later, President Bush signed off on $17.4 billion in TARP money for GM and Chrysler. Thanks for the tip, Ollie!
[Source: CNN Money | Image: Chip Somodevilla/Getty]
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