Why is GMAC in such trouble after getting over $12 billion in bailouts?

Let’s see. The first thing they did after getting the first bailout was to offer ZERO INTEREST, NO DOWN PAYMENT LOANS TO SUBPRIME BORROWERS TO BUY OVERPRICED CARS. Doesn’t that sound real familiar? Why were they allowed to do that with US taxpayer funds?

Now they’re more than $3 billion underwater AGAIN and want almost $4 billion in American taxpayer funds so they can keep pulling these financially disastrous shenanigans.

JUST SAY NO. STOP THE LOOTING. START THE PROSECUTIONS NOW.

- AmericanPatriot

Related Posts:

• $700B Bailout: Letter to Senators
• It seems we have hit yet another round in the legal battle against the FED, where it is once again told it must release bailout details.
• “The government saved us”? The opposite is true.
• GOVERNMENT ADMITS FANNIE & FREDDIE HOPELESSLY INSOLVENT
• The fact that Goldman used taxpayer funds via the AIG bailout to cover their bets is a pretty good reason to call it a scandal.

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