SugarDaddy

GMAC: Three Key Questions

My thoughts are that the entire US average FICO scores are now being graded by finance companies on a "curve". When everyone's score has eroded in the last few years, why not just lower the numerical value of acceptance, what a real joke it is.

BTW, what a great plan, pay the Treasury 8% and make car loans for 60 months at 0%, that seems like a brilliant plan for future profits.

GMAC, the Fed, and Moral Hazard

Did I wrongly assume that by the Treasury investing 5 Billion in a new preferred class created by GMAC, that , that capital along with the debt swaps met the criteria for a bank holding company ??

It is still a screw job by the Treasury on us taxpayers to take the risk as usual.