Out of Control Policy Blog

Another GMAC Bailout? Yay...

In today's smack of the forehead news:

GMAC Inc., the lender that received two government bailouts totaling $13.5 billion, is in talks with the Treasury Department to receive a third lifeline, a person familiar with the matter said. The U.S. government may inject an additional $2.8 billion to $5.6 billion into GMAC, the person said, declining to be identified because the transaction hasn’t been completed.

Read the whole article from Bloomberg here.

Anthony Randazzo is Director of Economic Research

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Comments to "Another GMAC Bailout? Yay...":

Moe | November 6, 2009, 3:36pm | #

I wouldn’t buy a GM car if they were selling new Caddies for $100. They have taken my money without my permission or consent. Let Obama and those fools in Congress buy their cars and big limo’s. They are about to bail out GMAC next, and there isn’t a thing we can do about it. When this country finally goes bust there will be a revolt and then we will see who is in charge again.

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