Do they really think that GMAC failed to obtain ‘bank holding status’? The powers that be at Team RePO would never let that happen.
Even after a crucial deadline came and went, the financing arm of General Motors Corp. remained silent Saturday on whether it cleared a final hurdle to become a bank holding company and gain access to billions in federal bailout money.
Analysts have speculated that if GMAC Financial Services LLC doesn’t obtain financial help it would have to file for bankruptcy protection or shut down, which would be a serious blow to parent GM’s own chances for survival.
I have no doubt they made it, and I have no doubt that my hard earned tax money will be flowing into the GMAC and GM coffers anytime (if they haven’t already).
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