Will Cerberus Write Off
Mega-Billions on Chrysler
and GMAC Deals?
It Looks Really Ugly
Right Now.....
Now, some experts say, Cerberus may be lucky to hang on to the value that remains. Even though GMAC fortified greatly its capital position in June with a $60 billion debt refinancing, some question its ability to ride out the storm for another two or three years, should the storm last that long. If conditions don't improve, says a well-known auto industry consultant, GM, which itself has racked up massive losses, conceivably could go under and take GMAC with it.
