Former Treasury secretary gets billions in bailout
Updates
The Cerberus Mysteries Deepen
Cerberus Still Seeking to Privatize Profit, Pass on Risk?
Bush announces auto bailout
GM, Chrysler Close In On Deal For US Loans, Say Sources
Report: GM will file bankruptcy
THURSDAY, DECEMBER 11, 2008
• Cerberus Leveraging Billion Dollar Connections In Congress
It is agonizing to watch Congress publicly stumbling through its analysis and qualification of the auto industry, providing appearance that it is doing its homework on a bailout. Over 40% of Congress is made up of lawyers, with little grasp of finance, economics or business. Congress should not be negotiating the bailout.
Chrysler and Cerberus Capital Management are seeking an unholy bailout and Congress understandably struggles when Cerberus owned Chrysler CEO, Bob Nardelli, cannot explain why his bosses will not put up cash to bailout one of its many subsidiaries. Cerberus does not work that way, and it does not have to. Its political clout will do the heavy lifting on salvaging a failing investment.
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"IAP is owned by Cerberus Capital Management LP, an asset-management firm chaired by former Treasury secretary John W. Snow. The company is headed by two former high-ranking executives of KBR, formerly known as Kellogg Brown & Root. Al Neffgen, IAP's chief executive, was chief operating officer for a KBR division before joining IAP in 2004. IAP's president, Dave Swindle, is a former KBR vice president. The company has worked at Walter Reed since 2003, providing housekeepers, computer analysts and clerks under a Treasury contract," Steve Vogel and Renae Merle reported March 10, 2007, in theWashington Post.- Link
Tied to Cheney's Halliburton, Cerberus is also tied Katrina, Walter Reed and the list of Bush administration insider looting goes on and on...
Remember Dan Qualye. He's Cerberus' Manager of Global Operations.
Cerberus owns an Israeli bank called Bank Leumi.
Stephen A. Feinberg owns Cerberus.
Bank Leumi is a money laundry.
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