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GasBuddy News Article

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GMAC Needs Another, Yet Another, Bailout

The Detroit Bureau -- The bank holding company remains in trouble over bad loans in the housing and auto markets

This leads to reasonable speculation that the situation of the company is more dire than previously represented, and that more than $5.6 billion is needed to clean up the mess.


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Submitted Nov 17, 2009 By: fordmexico
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DrCashFlow
Champion Author Massachusetts

Posts:4,790
Points:1,172,455
Joined:Jun 2008
Message Posted: Nov 18, 2009 7:35:30 AM

took way too long to jettison the incompetent ceo.
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granitestater
Champion Author New Hampshire

Posts:6,329
Points:1,021,395
Joined:Oct 2008
Message Posted: Nov 18, 2009 2:37:51 AM

In New Hampshire a mortgage company named Financial Resources has closed abruptly. Along with two other related business. A property firm named CL@M Property. And a law firm (insert name here) used to turn out the legal documents for the other two. Millions of dollars are missing. Somebody didn't get a bailout...
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FastAndy
Champion Author Indianapolis

Posts:4,409
Points:1,579,385
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Message Posted: Nov 17, 2009 10:57:52 PM

Let them die, they are not to big to fail, even though Obama is now controlling Government Motors, and will bail them out again, with our money.
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fordmexico
Champion Author Michigan

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Message Posted: Nov 17, 2009 10:18:21 PM

Twice is enough. Let them get a capital infusion from private sources this time. Where is Cerebus??
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Sneakers55
Champion Author Houston

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Message Posted: Nov 17, 2009 10:15:07 PM

Lost another one to ditech.com !!!!
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graceman
Champion Author Baltimore

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Message Posted: Nov 17, 2009 10:07:21 PM

No more
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