GMAC & Cerberus (hedge fund) Get $6 billion from U.S. Taxpayers


***Update: Now $6 billion!

Did you hear? We are bailing out hedge funds now.  GMAC got $5 billion from U.S. taxpayers.

Cerberus Capital Management (a hedge fund) owns 51% of GMAC.  A few days ago there was talk that Cerberus would give up some of Chrysler so it could receive federal bailout funds. Our government gives them our $5 billion dollars through GMAC instead. No need to worry. I’m sure Chrysler will still get our $4 billion.

Should we Bailout Bernie Madoff too?

Treasury to Buy $6 Billion GMAC Stake (Bloomberg)

Cerberus Capital Management (Wikipedia)

What’s Bigger Than Cisco, Coke, Or McDonald’s? (BusinessWeek)

Steve Feinberg’s Cerberus, a vast hedge fund that’s snapping up companies — lots of them.

I am LIVID! I am now going to find the addresses & phone numbers of every rich stupid Cerberus executive. The masses may not be smart, but they do know how to find Greenwich, CT and they’re googling billionaires.

Aim for Answers

One thought on “GMAC & Cerberus (hedge fund) Get $6 billion from U.S. Taxpayers

  1. very informative story……but it pisses me off..they should not be getting a dime… I dont care how many jobs it saves… My job wasnt saved… this is protectionism…. in researching more about hedge funds I came across a few books that were fascinating ..honest, and informative…..Hedge Fund Trading Secrets Revealed by Robert Dorfman… and Confessions of a Street Addict by Jim Cramer….both these books take you on a great ride about hedge funds and how they make money. I learned about this secret society than I ever would have imagined

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