Detroit is far from broke.
I am sure everyone knows by now that Congress and the Whitehouse seem to have struck a deal to bailout Detroit’s ‘Big Three’ automakers – Chrysler Corporation, Ford Motor Company, and General Motors. Courtesy of the mainstream media you have undoubtedly heard the most about on GM – how they only have enough money to make it a couple more months or some such sob story about how they desperately need cash or layoffs are sure to come and UAW workers have to feed their families somehow don’t cha’ know… *Sniff* Excuse me while I wipe my eyes…
What you may not know is that at least one* of the Detroit contingent has deeper pockets than they’re letting on. Chrysler Corporation is in fact owned by a private equity firm called Cerberus, and – oh hey, the CEO is non other than John Snow, one of President George W. Bush’s former Treasury Secretaries. And Cerberus is commanding a contingent of lobbyists with several familiar faces, former Vice President Dan Quayle among them.
So here’s what’s really happening, an ultra secretive private equity firm (Cerberus) is attempting to recapture losses in their failing investment (Chrysler) and they want you (American taxpayer) to foot the bill. Friends, there is absolutely no way that your government leaders are unaware of this scheme.
*Since publishing this article, The Bruce has been informed that