Well, Bush said that the "US auto industry" was too big to fail. (Never mind that Honda, Toyota, Volkswagen, BMW, and others make their stuff here, and frequently with more US-made parts than the "US" manufacturers...) We, meaning the taxpayers, have put billions into them.
Well, now Chrysler is failing anyway. YAY! We've been putting "good money after bad" for far too long, and I don't want the government running businesses anyway. And Fiat will get a good deal, because the tax payers and debtors (mostly small businesses) are covering the rest.
Now we just need to push GM over, so they go bankrupt too and get the government out of their management. And the unions too, while they're at it. Unions can be useful, but they've gotten to just be huge, political, and expensive bureaucracies of their own.