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Cerberus Takes Beating in Chrysler Collapse

The collapse of Chrysler has been a fiasco for Cerberus Capital Management.

Lots of people seemed to think it was a good idea in May 2007 when $24 billion, New York–based hedge fund and private equity firm Cerberus Capital Management led a consortium of investors in buying an 80.1 percent stake in the smallest of the big three Detroit automakers. The move

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