Ford has it right! And profit too...

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The fact is GMAC is a FDIC insured BANK and GM has nothing to do with GMAC any more.
The facts are clear - you made an incorrect sataement. Why is it so hard for you to omit it when you make a mistake.
Do a search for www.gmacbank.com
Narrow Your Search What Does GMAC Stand for GMAC Car Loan Account GMAC Mortgage GMAC Banking GMAC Demand Notes GMAC Insurance GMAC Realty GMAC Auto Phone Number GMAC Cars GMAC Residential Funding
GMAC Bank Money Market Savings Account - Banking Reviews - Banking Reviews: GMAC Bank's Money Market Savings Account -

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On 12/01/2010 10:56 AM, C. E. White wrote:

Good post, Mike should read the facts and not more union drivel. Because this is just a huge scam, biliking of taxpayers and not one executive has been charged. It wasn't too long ago GMAC was flush with cash but then no one wants to disclose where all that money went.
This is the biggest corruption scam of all time. Hopefully someday it will be realized as such.
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Once again our friend Canuck57 is telling us the sky is falling LOL

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Obama already squashed two. There were two lawsuits to get GM to open up the books and pay up as is customary in bankruptcies, both judges issued unusually terse and quick judgements as not to hold up GM in bankruptcy. Corruption at it's finest. GM even had an outstanding warrant to pay for false financials, yet Obama didn't use SOX to go after the CEO and CFO.
Go figure. Corruption just like in 3rd world countries. I am sad the US has deteriorated this much.
On 12/01/2010 10:19 AM, Mike Hunter wrote:

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Once again our friend Canuck57 is telling us the sky is falling LOL

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On 12/01/2010 10:01 AM, C. E. White wrote:

Which is also how GM keeps it's sales artificially up in the US. Obama says lend - spend - lend... bank part issues credit to GMAC no one would touch ever. GMAC then lends it to people who can't quality at Ford, Toyota, Honda, BMW or other. Just GM & Chrysler.
When it all collapses, taxpayers again get the shaft as they are now the major owners.
Sort of sucks to have the corrupt into our pockets doesn't it?
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Once again our friend Canuck57 is telling us the sky is falling LOL

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Yep, GM and Carlyle sucked it dry, then had executives give loans to people with bad credit, no problem as long as you buy a GM....
Jus tto keep the GM ponzi scheme going...
Now saddled on the taxpayers.
When GMAC should have just been liquidated.
On 11/01/2010 8:05 AM, Mike Hunter wrote:

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