November 18, 2010
Today, President Obama declared that General Motors Initial Public Offering is proof positive that the bailouts worked. Nothing could be further from the truth. The $50 Billion that the government loaned GM did not save GM. It was the bankruptcy that helped GM. If GM had not gone through the bankruptcy process, the $50 Billion [...]
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July 22, 2010
GM announced today that it is buying Americredit Inc, which makes loans to consumers with credit scores below 620. GM, majority owned by taxpayers, is buying a company that makes car loans to shoppers with poor credit. Unlike home loans, though, the risk in subprime auto lending is relatively low and may reward GM. The [...]
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