Bush Cronies Behind (reason for) Bush's $17 Billion Automotive Give-away, According to Michael Savage

Michael Savage

SAN FRANCISCO - December 19, 2009: Nationally known conservative talk show host personality Michael Savage has been making quite a loud argument this afternoon on his radio program that the reason for President Bush's decision to; a) abandon "free-market" principles (even though he is a "free-market" president) and to turn to a socialist solution, and b) provide aid to the automotive industry even though Congress could not agree on doing so, is that his cronies are heavily involved with Cerberus Capital Management, the majority owners of the new Chrysler Motors.

As it turns out, John W. Snow, Bush's nominee for Secretary of the Treasury (2003 to 2006*) is the present Chairman of Cerberus Capital Management. In addition, Dan Quayle, former U.S. Vice President in his father's administration, is Chairman of an international division of Cerberus Capital Management.

And according to some of Michael Savage's callers, former U.S. President George H.W. Bush is or has been involved in Cerberus' management.

To tie it all together with General Motors, Savage then points out the peculiar arrangement that exists between GM and Cerberus regarding the sale of a majority of GMAC to Cerberus and the on & off negotiation that has been taking place between GM and Cerberus regarding the remaining portion of GMAC in exchange for the controlling interest in Chrysler LLC.

For more information visit http://www.michaelsavage.com.

*When John W. Snow left the Treasury Department to go to Cerberus, Bush then nominated Henry Paulson, the current genius running the U.S. Treasury.