Barack Obama will bail out GMAC for a third time.
This is necessary, Barack Obama thinks. Otherwise, UAW unionists might lose their jobs.
This is necessary, Barack Obama thinks, because otherwise people with bad credit could not buy cars they could not afford.
This is necessary, Barack Obama thinks, because otherwise Ford (which has not been bailed out) might gain market share.
This is necessary, Barack Obama thinks, because otherwise people might buy foreign cars.
The third GMAC bailout combines corrupt politics, economic foolishness, socialism, and protectionism.
It is typical of the economic policies of the Obama administration.
What? No note that you and the wife have CD’s with GMAC because of their better rates?
Consider it my peaceful protest against Obama’s blog disclosure rules
Anyway, that investment is guaranteed by the upcoming FDIC bailout [1]
[1] http://online.wsj.com/article/SB10001424052970204731804574385072164619640.html
Aren’t much of GMAC’s recent troubles related to its foray into the housing market? I fail to see how GMAC is “too big to fail” anyway, so obviously, as you say, this bailout would be nothing more than a political giveaway.
Eddie,
Yes.
Agreed!
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