GM to buy Americredit

[Jamisjockey]

GM will be essentially using Taxpayer monies to purchase another financing arm.  But, my friends, that is not the real problem here.
Americredit lends to people with risky credit. 
So, GM, rather than I don't know, BUILD CARS THAT PEOPLE REALLY WANT, is going to instead tackle the market buy selling cars to people who probably can't afford them in the first place.
Dejavu, anyone?
Oh, and the administration was all over the housing market and lenders like flies on *expletive deleted*it for this EXACT SAME PRACTICE (ignoring the fact that Politicians and Liberals started the practice in the first place). 
Yet, when GM plans to do it, they are quite silent on the matter.  I guess as long as GM doesn't overpay the CEO it's okay?

http://online.wsj.com/article/SB10001424052748703467304575382810481110230.html?mod=WSJ_business_whatsNews

[Monkeyleg]

You worry too much, JJ. If somebody defaults on a car loan, all of us taxpayers will just step in to make the payments. It's not called "Government Motors" for nothing.

I think I'm going to go out and buy a Cadillac Escalade. Always thought they were very bling-bling, but couldn't afford one.

[Jamisjockey]

You worry too much, JJ. If somebody defaults on a car loan, all of us taxpayers will just step in to make the payments. It's not called "Government Motors" for nothing.

I think I'm going to go out and buy a Cadillac Escalade. Always thought they were very bling-bling, but couldn't afford one.

When you can no longer afford the 14% Americredit intrest rate, make sure and bitch on CNN about how you got screwed by an evil corporation.

[longeyes]

People's Motors buys People's Finance, what's the problem, comrade?