Obnoxious and Disliked

And now, since I posted YESTERDAY...well, a followup to prior blog entries can't hurt, can it?

Looks like GMAC, Chrysler's lending arm, is going to get a THIRD bailout from the government. Why? Because it couldn't raise enough capital on its own.

Follow up:

From MSN:
Treasury, GMAC in talks for more aid

Here's an article back in May from the New York Times describing the SECOND bailout of GMAC.

Here's an article from the Huffington Post about the FIRST bailout of GMAC.

And oh, my mistake. GMAC USED to be the lending arm of Chrysler. Then it became a bank holding company even though two weeks earlier they were critically short of the money they needed to raise to qualify for that status.

As a quick aside, it was the Federal Reserve that granted that emergency conversion. Yeah, the good ol' boys that Ron Paul is trying to audit.

Between all those articles I've just dug up, I think there are far too many statements to comment on. Mine through them, there's plenty to chew on. Have fun, enjoy, bang your head against the nearest wall. It's a cornucopia of "fail", folks.

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