GM at it again, as if screwing up GMAC was not enough

There are few that doubt GMAC went from being a highly profitable business 7 years ago, to a 4 time veteran corporate welfare recipient sucking up many billions in taxpayer funded debt. GMAC is now Ally, they even wanted to dump the GM name because of brand damage.

And while big mouth Obama says no more bailouts, this is taxpayers money being used to bailout GM which has a 000 credit score and does not have the cash to loan!!! GM will have taxpayers pay $3.5 billion in cash for AmeriCredit Inc. GM does not want GMAC as it isn't liquid enough, being already bankrupted by GM making them give out loans to poor and bad credit types no one else would touch.

Looks like GM's next big bailout is to use taxpayers to abck their line of credit while they loose more taxpayers money. Some could sue DC for anti-trust on this one as it is unfair competition by definioon. But we know Obama does not like to enforce the law...ask any forme GM.old bond holder.

Here we go again....another taxpayer screwing in the making. More Obama promises to screw the taxpayer for marxism and ego. GM bailout #2.

Big BS going on to white wash it too. Know that subprime is guaranteed to loose taxpayers moneys and is considered toxic, it why NO OTHER BANK IN THE WORLD WILL TOUCH THIS MARKET!!! Its only redeaming value is in hiring repo people. Sub-prime is what started off this Great Debt/Government Depression of 2008-20xx!!