Sen. Tom Coburn pointed out a very important issue this morning. Cerberus Capital Mgmt owns a bit over 80% of Chrysler. If there is any way to save that company, they will figure out a way to do it. They have billions on the line if Chrysler goes down. They’ll sell other of their assets in stronger companies in order to get the money to protect their investment in Chrysler. They can do that. That is their option. It’s a simple business decision.
If Cerberus chooses not to save it’s own car company, why should we. If they do not believe it is salvageable and are willing to loose their billions of investment, what makes us think the government can do better? On this one issue alone Chrysler should be completely out of consideration.