The answer is Fiat. And so with that, the Italian auto giant is buying into not the Chrysler of today, but the one that will emerge from Chapter 11 bankruptcy, possibly in a matter of weeks.

The dire circumstances that General Motors finds itself in have been compared to the English-speaking peoples’ favorite epic failure–the sinking of the Titanic. While that tragedy and GM’s troubles to date share such similarities as the rush of water through the luxury liner’s hull and the gush of red ink from the Renaissance Center, the latest turn of events is more like a submarine sinking toward inevitable implosion.