Dejevu?

[greg334]

GM has decided to get back into the banking world by purchasing Americredit for $3.5B.

I can't help but ask why?

It seems one of the underlying issues with GM was GMAC's poor judgment on the credit end. I would think they would be smart and not try to get so greedy but again most don't get that they didn't even reorg the company or fire the management that caused the troubles in the first place.

 

[chefdennis]

AmeriCredit is a lender to "sub-prime" borrowers.....this should be good....

 

[layoutshooter]

Obama most likely blackmailed GM into doing this. He might be setting them up for failure to insure his take over of the auto industry. He has banking, watch for something like it in mining and steel. Typical fascist.

 

[arrbsthw]

Maybe they need a bank to finance those $41,000 Volt cars that will run for 40 miles on a charge cycle.