Last June, Cerberus sold more than half of Chrysler and significantly cut its investment in GMAC in order to “lower its risk”.
Cerberus seems desperate to get rid of Chrysler. It’s talking to everyone willing to listen to take it off its hands. Hyundai looks like a potential “strategic partner”.
So, vote no on the bailout. It won’t mean the end of the world for the car companies. They will merge or be bought up by foreign companies like Hyundai. Don’t buy into the Armageddon hype.