GMAC bailout could give Cerberus a floor and exit

[Joanne98]

By Jui Chakravorty Das

NEW YORK, Dec 30 (Reuters) - The federal bailout of auto lender GMAC LLC puts a floor under the potential losses for its owner Cerberus Capital Management and could provide a roadmap for the private equity firm and its investors to cash out with their remaining capital.

The development underscores how the deepening government support for the U.S. auto industry has spread to include help for the battered sector's most controversial participant, Cerberus, a private Wall Street firm with deep connections to the Republican Party.

http://uk.reuters.com/article/marketsNewsUS/idUKN3033869120081230

[Atman]

1. Of course, once again we have to turn to the UK for the truth...

"...Cerberus, a private Wall Street firm with deep connections to the Republican Party."

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