Treasury sets up new Chrysler

On Friday, the U.S. Treasury, obviously expecting Judge Arthur Gonzalez to approve Chrysler’s transfer of assets as early as tomorrow, set up a new company to receive them.

The new company, NewCarCo Acquisition, LLC, is based in Wilmington, Delaware and already has $6,943,000,000 in its account, courtesy of Uncle Sam. This is the funding the Obama Administration had promised if Chrysler and Fiat could conclude their alliance in a timely fashion.