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Old 12-12-2008, 01:48 PM
 
Location: Great State of Texas
86,068 posts, read 74,832,001 times
Reputation: 27602

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They are going to do whatever they want. Isn't that obvious by now ?
They will change the rules to suit the game.

GMAC is not a bank and cannot become a bank so that's not really a back door.
GMAC does not have enough capital to qualify as a bank holding company.

GMAC warns it will likely fail to become bank holding company - MarketWatch
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Old 12-12-2008, 04:46 PM
 
48,509 posts, read 86,254,134 times
Reputation: 18106
At this point who cares what they spend the last TARP money on ;but wehen this is gone:i say no more. We have seen examples enough what the money goes to and it was freeing up credit and it would save the big three.Besides even teh republicans that voted no have said the TARP has language that allows just that put in by the democrats.

Last edited by texdav; 12-12-2008 at 05:09 PM..
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Old 12-13-2008, 06:29 AM
 
Location: Hope, AR
1,505 posts, read 2,856,735 times
Reputation: 248
The only question is how they do their end run around it.

Quote:
Originally Posted by HappyTexan View Post
They are going to do whatever they want. Isn't that obvious by now ?
They will change the rules to suit the game.

GMAC is not a bank and cannot become a bank so that's not really a back door.
GMAC does not have enough capital to qualify as a bank holding company.

GMAC warns it will likely fail to become bank holding company - MarketWatch
Reply With Quote Quick reply to this message
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