From the AP, via Yahoo Finance:
http://finance.yahoo.com/news/Treasury-GMAC-in-talks-for-apf-1495891587.html?x=0&sec=topStories&pos=2&asset=&ccode=
I'm sure that there are plenty of those that will criticize the administration's plans if they move forward with this. Some potential criticisms include:
-This would be the third injection of US funds into GMAC (the first two totaling $12.5B USD). The short-sighted will probably ask why the first two infusions of tax payer dollars proved ineffective.
-The conspiracy crowd will no doubt howl about the government already owning a 35% stake in GMAC and will probably make the dubious claim that somehow this ownership stake has allowed GMAC to return to the government with hat in hand even though it was the only one of the 18 banks asked to endure 'stress tests' earlier this year not to be able to raise adequate capital funding from private investors.
- The fact that the government will recieve preferred stock, which means that the US taxpayer would have no claim should GMAC go under, will be nitpicked by the Beck-bots and Rush's Ditto-heads.
- Perhaps the naysayers will bellyache about the FDIC allowing GMAC access to its debt guarantee program. After all, they'll moan, GMAC is junk-rated.
- Lastly, they might parrot the right wing blogosphere talking points about how GMAC posted a second quarter loss of $3.9B USD.
Personally, I think it's commendable that the administration stick to its guns and do what they believe is right in the face of shallow, paper-thin criticisms. If they do go ahead, won't this demonstrate once and for all to those who have harped on the (supposed) thin-skinned nature of the administration that they act not on the whim of popularity, but are willing to make the tough calls, even if it means scathing excoriation in return?
Originally posted by FleabittenInteresting points you make. I agree with most of them. Just remember however that critics go with the job. All Presidents have them😏
From the AP, via Yahoo Finance:
http://finance.yahoo.com/news/Treasury-GMAC-in-talks-for-apf-1495891587.html?x=0&sec=topStories&pos=2&asset=&ccode=
I'm sure that there are plenty of those that will criticize the administration's plans if they move forward with this. Some potential criticisms include:
-This would be the third injection of US funds ...[text shortened]... ut are willing to make the tough calls, even if it means scathing excoriation in return?
Originally posted by FleabittenWell the Bush administration did not much care what the average Joe thought either and they were there for two terms.
From the AP, via Yahoo Finance:
http://finance.yahoo.com/news/Treasury-GMAC-in-talks-for-apf-1495891587.html?x=0&sec=topStories&pos=2&asset=&ccode=
I'm sure that there are plenty of those that will criticize the administration's plans if they move forward with this. Some potential criticisms include:
-This would be the third injection of US funds ...[text shortened]... ut are willing to make the tough calls, even if it means scathing excoriation in return?