Sunday
Jan042009
Because New Vehicle Financing is Definitely in the National Interest
The tally grows...the banks, the insurers, the brokers, the autos and now it's automotive financing.
Today it is gmac, the ever needy financing arm of gm which is 51% owned by those PE riptards at cerberus...so PE funds now get your children's future taxpayments...nice work senor kashkari, please take a bow.
Editor's Note: this was a practice post to work with the web software...you will see much more on GMAC soon.
Jan 4, 2009 at 2:32 AM
Reader Comments (5)
testy, testy now
Hello bailout News...I like your site's idea and will be bach!
I found you via Free Republic and a Silicon Alley 'NYC Real Estate Wipes Out Israel's Pension Funds, Kamelia Angelova' which was posted on FR. Good will hunting the crooks that have infested our country, we must come together and make this crime transparent to all with open minds.
I just wasn't firsty enough.
SPODE
this was also just a practice blog entry so i could get used to the software...
thus there is no meat to the entry...
the juicy, painful stuff is still to come...
Who would have ever thought banks as large as citigroup and bank of america and gmac were so worthless. I had no idea they were in this much trouble. Doesn't it seem strange that none of them have lost their jobs. How is that possible?
I just found your site through TechCrunch. Someone mentioned it in the comments section of an iphone story. I like it. I like that you have no advertising. lol
I am a single mother with 2 young sons and I work in the tech industry in california. Our state is facing a large budget shortfall this year and we have been asking Washington to bail us out and I think it's wrong. The politicians in our state would rather look to Washington to cover our budget shortfall than actually look at the reasons for our shortfall. Yes, revenues are down this year becaue of the slowdown, but the true issue is bloated stae budgets, and health care and pension benefits that have been promised to public workers.
In vallejo which filed for bakruptcy in 2008, there were 42 police and firefighters earning in excess of $200k per year. Are you kidding me? For public employees, this is unreal. And these employees will receive 90% of their salary in the form of a pension for every year for the rest of their lives. And we, the taxpayers of california have to pay for their excesssice packages.
And if Washington just bails out all these states that are in trouble, then these states will never be forced to cutback their spending. And these bloated state salaries and pensions well never be corrected.
It makes me very upset when I think about.
update: i am posting my thoughts about the state bailouts in all the comment's section.