Bailout Watch 400: These People Own Chrysler (Amongst Others)
The following institutional investors bought into Cerberus Institutional Partners IV (CIP4). That’s the $1b – $1.5b Cerberus-controlled fund established to provide part of the initial $7.2b payment to Daimler for Chrysler. Obviously, this list is far from complete. We call on our elected representatives to require Cerberus to provide a full and complete accounting of all participants in this fund before U.S. taxpayers extend Chrysler any more federal loans.
LA Police & Fire Pension
Public teachers of PA (PSERB) – $200m
PA state retirement workers [SERS] – $75m
NY Common Retirement Fund – $50m
Charles Schwab Institutional
Univ of CA – $40m
Univ of Tex – $25m
Idaho state employees – $40m
Glenmede Trust Co. (PA)
Franklin Templeton Investments
[thanks to Full Deck Analytics for the help]
Idaho needs to drop this hot potato. I made a funny. Anyway, I thought they were smarter out there.
It'd be much better to lay off millions of federal employees in a time of record unemployment so they want have any money left to spend into the economy. Wait, what? No, that'd be monumentally stupid.