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General Motors Company Message Board

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  • webuchadnezzar_reva webuchadnezzar_reva Apr 4, 2011 6:41 PM Flag

    McCarthy's witch hunt is back on this board

    <<<<<Don´t forget to put the billions General Motors are getting for Ally and Delphy in your analysis...>>>>>

    And why should GM get a dime?

    <<<During the height of the financial crisis in 2008 and 2009, Ally Financial received more than $17 billion by way of bailout money in several transactions as part of its participation in the government’s $700 billion Troubled Asset Relief Program (TARP). The U.S. Treasury now owns a 73.8% stake in the company. The Treasury obtained this stake after the company, formerly known as GMAC Inc., almost collapsed. With the IPO, the Treasury will be able redeem its holding in Ally Financial.>>>>

    All that money should go straight back to the taxpayers. Only reason it won't is that this is a way for Obama to give yet MORE help to GM to cover up the otherwise massive losses over there. But it can't look like a bailout.


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