Cerberus Issues Chrysler Statement

Cerberus Capital today issued a statement regarding its investment in Chrysler LLC, following President Bush's authorization of $17.4 billion in emergency loans to U.S. automakers (although Ford said it won't need the help). It said that it would put $2 billion from Chrysler Financial into the troubled automaker, alongside the $4 billion in federal funds. It also reiterated its pledge to not take any profits that may emerge, which a spokesman says includes both carried interest and fees. Here is the statement, in its entirety:

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