Corker Doesn’t Appreciate Their Ruse

By Kleinheider Posted on December 4, 2008 at 4:14 pm

The Senator doesn’t think Chrysler should be propped up by government just long enough to be conveniently sold:

Corker, a critic of the industry, said Thursday during a Senate Banking Committee hearing in Washington that Chrysler’s private equity owner won’t put any more money into the business and intends to sell it.

By loaning Chrysler the $7 billion it requested, he said, the government would just be providing capital to keep the automaker afloat until a sale by Cerberus Capital Management LP.

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Tags: auto bailout, Big Three, Bob Corker, Chrysler