Chrysler asks the U.S. taxpayers for an additional $3 billion to secure Fiat deal.
West Palm Beach, FL (JusticeNewsFlash.com)–Chrysler LLC is demanding another $3 billion in emergency bailout money from the U.S. Taxpayers above the $4 billion they just received on Januray 2, 2009. In a shocking request, reported by Reuters today, Chrysler is seeking an additional $3 billion dollars of American taxpayers money from the U.S. government to secure a deal with Italian automaker, Fiat. Apparently, Fiat will be given a 35% stake in Chrysler for free. No cash will be given to Chrysler.
Chrysler is 80% owned by a private equity firm called Cerberus Capital Management according to Wikipedia www.wikipedia.com. Apparently, in exchange for an additional $3 billion of U.S. Emergency bailout money, plus a 35% stake in the U.S. automaker, Fiat will allow Chrysler access to its technology and overseas market. If the U.S. Government writes the $3 billion check the total payout to Chrysler will equal $7 billion in three weeks.
Average American consumers seem to be scratching their heads and asking…Where is all the money going?
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