Why is Cerberus asking for $7.4 Billion to Save Chrysler?

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Bob

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On May 14, 2007, Cerberus purchased Chrysler from Daimler for $7.4 Billoion. Cerberus is a private equity group with Billionaire investers.

In November / December Chrysler was testifying that they need $7.4 Billion to continue operations.

Since Cerberus is a venture capatilist group, shouldn't the Billionaire investors put some more of their money into the business instead of asking for taxpayer help. Sounds to me like Cerberus made a bad investment. All they want to do is get their money back. Should this be allowed?

http://www.msnbc.msn.com/id/18645179/
Here is info on Cerberus:

http://hoovers.com/cerberus-capital-management/--ID__112328--/free-co-profile.xhtml
 
You are spot on.No way should any of the big three be bailed out. But I wonder what these United States would look like without an auto industry.
 
Cerbercus

NO LONGER OWNS CHRYSLER

the tax payers do

WE need to get the title to the company

Bernard Madoff's investment
 
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