Cerberus-The 3 Headed Dog that Guards H*LL- Oops, I mean Snow's Company That Just Bought out ChryslerSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Cerberus-The 3 Headed Dog that Guards H*LL- Oops, I mean Snow's Company That Just Bought out Chrysler
 


15 May 2007 at 10:28:43 PM
salon

Snow who? Snow Job? No, Scumbag Snow.

Funny you don't hear about the present Treasury Secretary going after ex Treasury Secretary John Snow for his conflict in spying on interbank financial transactions as U.S. Secretary of Treasury through SWIFT of Brussels,Belgium with CIA and perhaps SRA International's Mantas data mining software followed by John Snow's resigning his U.S. Treasury Secretary financial spy post in Europe to BUY BAWAG BANK with Dan Quayle,John Snow,the Kellogg Brown and Root boys and some well heeled Jewish billionaires(who helped them buy Leumi Bank of Israel and who are modest and wish to remain anonymous) !?

The former scumbag Treasury Secretary John Snow, who Paulson replaced,by joining Cerberus hedge fund,also tied himself to the Kellogg,Brown and Root plunderers who defrauded U.S. government in Iraq() and who run IAP Worldwide that defrauded American soldiers returning home wounded and crippled from Iraq by basically looting and robbing Walter Reed Hospital of trained medical staff and infrastructure ! So if Henry Paulson allows Cerberus to provide banking services in Cuba,how can any individual American be harrassed for visiting there, much less a journalist !?

What did Cerburus do and why does it matter what private equity does? Because, for one thing, companies are using people's PENSION FUNDS to buy out companies.

Private firms like Cerberus announced a record $188 billion worth of leveraged buyouts in the first quarter of the year, according to Bloomberg News. And they've collectively amassed a $250 billion war chest since the beginning of last year. That's enough for $2 trillion worth of leveraged acquisitions, according to a report by investment banker Morgan Stanley.

Plenty of companies with publicly traded stock will fall into their cross hairs....

The way money gets made in these deals can be bloody. Buyout firms often strip businesses of cash and load them with debt to pay themselves small fortunes. Then they take out the hatchets, cutting costs, slashing jobs and hacking away anything they can sell. If they don't break the companies into pieces, or sell them to another buyer, they take them public and start the cycle all over again.

"They leverage it up and squeeze everything down, but sometimes this is what it takes to make (a company) more efficient," Rizzuto said.

The additional debt, however, leaves a company vulnerable to economic shocks and certainly a lot less creditworthy.

"If the private equity/hedge fund buyout trend continues ... the market would be faced with substantial amounts of investment-grade debt quickly transitioning down the rating scale, possibly to high yield," wrote Robert F. Young of debt-ratings agency Moody's Investors Service in a recent report.

"High-yield" is just another term for "junk bond." Taking the world private means filling it with high-risk debt.

Lynn Turner, director of research for the investor-advisory firm Glass Lewis & Co., said private equity is hotter than ever because corporate managers and directors are less accountable than ever.

Daimler-Benz AG bought Chrysler for $36 billion in 1998. Now, it's selling 80 percent of the company for $7.4 billion.

"Instead of saying we're going to fix the problem, they are just going to sell it," Turner said.

This is one of the most immoral types of actions I have read about. These private entities DO NOT CARE about the companies, the employees, or the money they are using (from PENSIONS) to do these buyouts. WHERE is the regulation???????


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