Richard Mourdock plans to run for re-election next year as treasurer of the state of Indiana.

He recognises his campaign could be blunted by the lonely battle that three state pension funds under his control are waging to block Chrysler’s restructuring. “I had someone ask me the other day if I was using this as a political stepping stone,” said Mr Mourdock, a Republican, in an interview. “I told them more likely it’s a political tombstone.”