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    Govt gives GMAC $3.8B in new aid, boosts stake
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    clayinaustin
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    12-30-2009 08:24 PM
    Govt gives GMAC $3.8B in new aid, boosts stake

    Forget about health care. The Federal Government is simply "buying" its way to Socialism!

    The fresh infusion is on top of $12.5 billion in taxpayer money Detroit-based GMAC has already received from the government. The new aid will boost the federal government's ownership in GMAC to 56 percent, from 35 percent, and means the U.S. now holds a majority stake in three companies that it bailed out with taxpayer funds — GMAC, General Motors and insurer American International Group Inc. The government also has taken control of mortgage giants Fannie Mae and Freddie Mac.
    If you find yourself in a fair fight, your tactics suck!
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    Steve 1
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    12-30-2009 08:39 PM
    Got to cut the purse strings to the Rats in 2010.
    Slippery when wet. PODLESS TUNNEL www.cheetahcat.com ,Repairs, Modifications and Truing Cheap reliable speed.
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    #3
    Tommy Gun
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    12-30-2009 08:44 PM
    GMAC??? Crap...they bought my mortgage a few months ago; time to pay that puppy off. I do not want to be controlled by socialists, nor will I buy a GM car...I'm now a Ford guy again.
    Warning: There will be no warning shots.
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    #4
    Carguy
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    12-30-2009 10:15 PM
    Quote Originally Posted by Tommy Gun View Post
    GMAC??? Crap...they bought my mortgage a few months ago; time to pay that puppy off. I do not want to be controlled by socialists, nor will I buy a GM car...I'm now a Ford guy again.
    GMAC mortgage is a different company from GM. Has been.
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    #5
    cuda
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    12-30-2009 11:34 PM
    It stands for General Motor Acceptance Corporation.
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    #6
    Wobble
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    12-30-2009 11:40 PM
    Quote Originally Posted by cuda View Post
    It stands for General Motor Acceptance Corporation.
    GM has not held a controlling interest in GMAC since March of 2006. They owned about 10% as of last June. They are also the finance company for Chrysler.
    Mark
    Everybody should believe in something; I believe I'll have another drink.
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    #7
    Tommy Gun
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    12-31-2009 01:26 AM
    Thread is about GMAC Financial services according to the link...not GM.
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    clayinaustin
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    12-31-2009 02:21 AM
    Quote Originally Posted by Tommy Gun View Post
    Thread is about GMAC Financial services according to the link...not GM.
    Correct. GMAC is in trouble because of its mortgage business.
    If you find yourself in a fair fight, your tactics suck!
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    #9
    cuda
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    12-31-2009 07:42 AM
    GMAC is in the business of lending money,
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    #10
    boatme
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    12-31-2009 09:19 AM
    Shouldnt bail ANYONE out

    we need to fire EVERY politician out there and start over

    Man we are in such trouble with this (and any ) administration

    www.headlinesdirect.com
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