On 31/12/2009 10:36 AM, John H wrote:
http://tinyurl.com/yb78tpp

WE pay the difference!

'Nuff said.

It is pretty easy. The government plan is to have GMAC give out loans
to any high risk welcher going just to make a sale of a GM vehicle.
Loads of bad debt paper. Probably even more than we have been told too.

And we do pay the difference. Don't forget Warren Buffet's interest in
GMAC. Can't let that billionaire down. He actually got caught in this
racket actually. Buying in on GMAC and not being able to influence the
board, as they pandered to these ultra insane risk loans. Buffet must
be just ****ed as 5 years ago GMAC was lucrative and profitable.

But that is how Wagoner and others ran GM, mortgaging everything,
selling off anything of value just a packaging these turkeys for the
taxpayer. Getting GMAC to issue loans for GMs that were stupid loans,
just to keep the massive fraud operation going.

Probably also why a GMAC CEO will never last long. Discovers the
corruption and either tries to change it for a firing or leaves not to
be pinned with it.

Looks like GMAC is getting more money, I figure GM is about due to ask
for more too. So corporate welfare remains an Obamanation going into
2010... how am I not surprised.

Yep, public taxation for corporations is now official! People ar enow
tax slaves to dysfunctional corporations in America. Sad, but true.