Regarding GMAC

By Daniel at 16 November, 2009, 8:47 pm

I think ethics had to do something with it.. GMAC + GM debt repayment announced today + Escrow monies in account = creative accounting scam

C4C will be a big story in the future. Mark my words

Federal Reserve: GMAC to get more bailout funds

The bank holding company, which provides financing for General Motors and Chrysler vehicles and dealerships, is in negotiations with the U.S. Treasury to get additional money from the $700-billion TARP fund.
http://www.freep.com/article/20091110/BUSINESS01/911100311/1210/Business/Federal-Reserve-GMAC-to-get-more-bailout-funds

NOVEMBER 13, 2009
White House Aims to Cut Deficit With TARP Cash
http://online.wsj.com/article/SB125799009185344567.html

This taxpayer fund will be drained pretty fast.

- lifeboat