CNN is reporting tonight that GMAC will receive an additional $3.8 billion of government aid on top of the $13.5 billion they have already collected. GMAC provides financing to GM and Chrysler and their customers.
The government will now own 56% of GMAC up from 35%. That increase gives our government the right to appoint two additional people to GMAC’s board of directors.
Rumors are that future presidential contender Sarah Palin is secretly pleased.
Folks, why aren’t Americans getting the concept that President Obama will not be president forever and those of you that swoon over Obama may not like our next president? And if you don’t like our next president are you going to be happy that this next president, that you don’t like and may not trust just might have been a fan of George W. Bush and just might be named Sarah Palin, has control of the financial system, major industries, and your health care?
Eh, why worry? At least we still have our Social Security.
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The unions control the car companies, Obama controls the car companies and the unions, ergo, he will support the financing arm of the unions and car companies..it’s the ultimate cat/rat farm scheme…
This is no surprise, and when GM/Chrysler come hat in hand again, and they will, Obama will provide further bailouts for his major constituency groups..Then he will point the finger for the problem/reason anywhere but at himself…
What’s a cat/rat farm? Never seen one here in Chicago but maybe in Detroit or Washington…Do they want subsidies???