Will Our President Misappropriate TARP Funds?

[HappyTexan]

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

[texdav]

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.

[Lulu101]

The only question is how they do their end run around it.

Originally Posted by HappyTexan

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