So for all of you out there, GMAC has had at least 4 seperate bailouts
as no credible investment house would lend GM, GMAC, or Ally any money.
Now, Ally advertises and does not up fron disclose it is GMAC and has
a sub-zero credit rating.
One could call it GM 's banktrupt bank loaning out money to people with
bad credit and who cannot pay back. Government just keeps tossing money
GMAC realized it's name was so tainted with bailout corruption, it used
Ally for the bankrupt bank brand.
Know that GMAC and GM creditors were severely screwed screwed over.
Lending to Ally is a very high risk.
Compound it with interest rates and inflation going up, the sheer risk
of GMAC screw debtors again, and again... you would be crazy to lend
money to Ally.
Not disclosing it is government.
Not disclosing is is zero-credit worthy GMAC.
Not disclosing it is bankrupt.
Government fraud sponsorsed, GMAC/Ally has cost American taxpayers the
following bailouts: (I amy have missed some)
$5 billion on December 29, 2008
$7.5 billion on May 21, 2009
GMAC Ally is in default, it needed to raise $11 billion in private
capital, but private capital is too smart to get sucker punched twice by
a GM/GMAC debt mongering welsher. Anything GM touchs like GMAC, Delco,
etc ends up screwing everyone who lends to or invests with these fraudsters.
You have been warned.