GMAC, which is the finance side of GM, and provides auto loans to GM customers today asked for a 3rd Bailout. In December 2008 GMAC got $5 Billion, in May it got another $7.5 Billion, and is now considered to be Government Motors. Today GMAC is in final talks with the Treasury Dept. for GMAC to receive another $2.8 Billion to $5.6 Billion in Taxpayer Dollars.
When is enough going to be enough??? Hopefully, it will be 3 strikes and your OUT!!!!
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Comments: 19
If they can't manage their business profitably they propably should go out of business.
Hey Poliwonk, suppose the courts would let me name you as "co responsible" for any health problem from the bad news? : )
It really would not matter if they were compentant or not, it would still go from bad to worse, but with Obama at the helm, it is "Full Speed ahead, and damn the torpedos"
Are they going to start lessons to speak Chinese soon?
Not like all of this wasn't predicted. But when the unions hollar, the Administration hops.
Maybe my fellow unemployed bothers and sisters can come up with a way to count us all accurately.
How accurate were the depression era estimates?
Do you think the government will say, NO?
When the government gives money to GM each time it asks, it expects to get it or GM will have a fit.
You know it's a bad sign when businesses depend on the government to stay a float.
Capitolism, where are you?
GMAC is not GM. Had GM been treated as generously as the banks, many families, including my own, would not be facing such financial hardship. You may not like the company, but have you no feelings for the millions of families who have been wiped out by the government's failure to support GM as they did the banks? We are real people, I assure you.
If I started a computer builder business, and the business went under, MY small company would NEVER GET A BAILOUT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!