Friday, January 16, 2009

Cerberus' Chrysler Gets More Taxpayer Money

America's sovereign IOU fund doled out $1.5 billion to Chrysler Financial, an affiliate of Cerberus Capital. The private equity underwriter (PEU) already received a $4 billion capital injection for Chrysler.

Hank Paulson's TARP ponied up $153 million for Carlyle Group affiliate Boston Private Financial Holdings, an investment company catering to the high net worth marketplace.

Welfare to billionaires, courtesy of beleaguered taxpayers. Oh, the PEU boys are revamping our global financial system. I bet they structure changes in their favor.