GMAC to receive another bailout of $3.8 billion from U.S. government

December 30, 2009 by · Leave a Comment
Filed under: Policy News 

You have to pay for these 0% APR car financing deals and GMAC found the perfect way, the U.S. taxpayer.  It wasn’t enough to bailout GM to save American jobs but now we have to make sure their is financing for these cars even if there is not the demand for them compared to other automakers.  How long until we finally let the market forces take their course and let the weak players fail or be taken over?

That means GMAC, like AIG, will get more aid from taxpayers, even though the prospect of repayment is on the wrong side of uncertain. Unlike AIG, GMAC was a disaster before the financial crisis’ darkest days. It finished 2006 losing money. In the third quarter of 2007 GMAC lost $1.6 billion, mostly on bad loans made by its residential mortgage arm. It lost $767 million in the third quarter of this year, $3.9 billion in the second quarter and $675 million in the first.

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Corporate and Government Bailouts Will Push US into Depression

September 11, 2008 by · Leave a Comment
Filed under: Economic News 

Heck I even think 10-11% inflation is being nice. I think the 12-18% are a bit more fair and a correct reflection in the rise in prices of the most essential goods. We can not think that we are going to inflate our way from the acute economic problems that are beginning to manifest and in my opinion be masked by the current political election season that includes a new President.

We can not think that deficit spending without actual productivity growth and expansion of real goods is going to solve these problems, it is more like a band-aid that has the side effect of inflation of prices.


The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

“We expect a depression in the United States. We expect a depression, very possibly, also in Europe,” Hennecke said on “Worldwide Exchange.”

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