Nice surprise for Chrysler as S&P cuts Fiat to 'junk'

The Administration seems to be counting on a partnership between Chrysler and Fiat before providing federal funds to the No.3 U.S. car company. Most observers would agree that Chrysler is the weaker of the two firms, but maybe not.

The car czar patrol may have gotten a little surprise as S&P cut Fiat to "junk."