Maybe someone has raised this issue somewhere but we never heard anyone at Tuesday's Senate hearings bring up the fact as to why the United States government would even consider bailing out Chrysler LLC.

In August 2007, Cerberus Capital Management took control of the American car company from DaimlerChrysler because they felt that they could make a “bundle” on this buy-out. Oops.

In doing so, Chrysler became the first American automobile company to be “privately” held in 50 years.

So why is U.S. government even contemplating bailing out a for-profit privately held company?

This appears to be just another case of quid pro quo in action - again, still, yet.

Let Mr. Robert L. Nardelli, current CEO of Chrysler and former CEO of Home Depot, use some of his unwarranted $120 million golden parachute payoff from Home Depot, to help bail out Chrysler but leave us out of this.

Now these same Cerberus - supposedly smarter “whiz kids” than at GM and Ford - are spinning all kinds of “the sky is falling” tales and want a piece of the $700 billion action. Hey, I own a couple of small private businesses, so me too, me too.

Let's hope that these Cerberus people don't prevail or else it will prove that they are just a little smarter than our elected and appointed federal officials.

It's outrageous - and an American tragedy - as to the Bear Sterns, AIG, Fannie, Freddie and umpteen big banks, etc. bailouts that already have occurred because of the G.W. Bush sanctioned corporate corruption and greed that has led to this worldwide credit crisis.

And no one has gone to jail or paid back their ill gotten gains and bonuses. Why is that?

It's time for some “tough love,” Mr. and Mrs. Senator and Congressman.

So let's not add insult to injury by using taxpayer dollars to bail out Chrysler too.

As for GM and Ford: Lend them a few billion at double digit interest rates and get a piece of the action (equity), either via preferred stock, options, warrants or whatever but not just give another “gift” because they're “too big to fail.”

And lest Congress forget, there is another side to this unsavory coin. There are millions of Americans who are “too small and will fail” due to this self-inflicted financial crisis. Where's their bailout?

It's your money.

Bill Balyszak

Auburn