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
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!!
*GM, they just keep on sucking!!*
Government has liberals, idealists and lawyers, but where is the common
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