This piece in the Wall Street Journal reads like an obituary of an early victim of President Obama’s war on contract law and private finance.
Cerberus was the private equity firm who made significant investments in Chrysler and GM, only to be told to suck off when President Obama swooped in to save the union pensions.
Now that they are dying, will President Obama bail them out too, or does he only void contracts when there is a union to benefit?
Was this really an Obama victim? I’m not familiar enough with how the economy works to comprehend whose fault this really is. Can anyone dumb it down for me as to why Obama is responsible for Cerberus’s failing? Wouldn’t Chrysler and GM have bombed without his interference anyway?