Breaking: Chrysler parent company Cerberus refuses to lend Chrysler the $7 billion it is requesting from taxpayers
Wait a second….Chrysler has a parent company that will not bail them out? Cerberus Capital Management owns 80% of Daimler/Chrysler and are flushed with cash yet they refuse to bail out the struggling automobile company. So Chrysler’s parent company Cerberus has sent the company to taxpayers to ask for $7 billion dollars when it can easily make the loan. Yes folks, Chrysler’s portfolio parent Cerberus refuses to inject cash into its subsidiary. When asked about this, it is reported that Cerberus responded that it will not make additional investments in the automobile industry at this time. Are ya kidding? How does Chrysler expect consumers to invest and have faith in them when they can’t get help or receive any faith from their own family. All I can say is …wow.