So Why is Chrysler Included in the Bailout?
Ford and GM are publicly owned companies. Yjeir stock is owned by many, many pension plans and individual investors. As such their books are open to the public. Chrysler, on the other hand is 20% owned by the German automaker Daimler. The other 80% is owned by Cerberus Capital Management. Since Chrysler is a privately owned company it’s books and financial statements are not open to the public. Despite 80% ownership in Chrysler Cerberus has refused to inject more cash into the company. If the owner won’t inject cash then why the heck should the taxpayers bail them out? Why are we bailing out a private company? Politicians involved in Cerberus: John Snow – GW Bush’s second Secretary of the Treasury is the Chairman. Former VP Dan Quayle runs an International Unit.
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