Bailout gives government majority stake in GMAC

[Bob Hubbard]

Bailout gives government majority stake in GMAC

NEW YORK (CNNMoney.com) -- GMAC Financial Services will receive a third round of bailout funds from the U.S. Treasury Department and the government will have a controlling stake in the company, according to a government report Wednesday.
The troubled auto and mortgage lender will collect $3.8 billion of additional aid on top of the nearly $13.5 billion already received since December 2008, the Treasury said in a statement Wednesday.

 

[terryl965]

Well there goes the nieghborhood....

 

[Bob Hubbard]

They got 3 rounds, I ain't even got 1 yet. How many bribes do you have to pay out before you get baskets of tax payer money handed to you already, sheesh.

 

[Big Don]

Ford, the only US automaker not to take a bailout, has had it's stock go from $2 in late February to $10 today...
Mattel, maker of Hot Wheels, is trading at $20.25...
GM?
Chrysler?
...