American financial services company
It is crony capitalism at its worst. Executives at taxpayer-bailed out firms received Treasury Department-approved pay hikes — your hard-earned tax dollars at work. The Special Inspector General for the…
You’re going to hear and see a lot in the mainstream media over the next few days about how wonderful the TARP program has been, how it saved so many…
View in your browser. Introducing the Economic Freedom Amendment Explicit socialism in the United States is no mere hypothetical threat. Since the 2008 bailout, the federal government has acquired equity…
When the government gets involved in bailouts, it?s not always easy to identify all possible negative consequences. Sure, there?s the moral hazard, and the fact that resources are seized from…
It’s deja vu all over again in Detroit. From the Financial Times: General Motors has agreed to buy AmeriCredit, a Texas-based vehicle finance company, for $3.5bn in cash as a…
Hey, what do you know — NACA — just like GMAC — is turning into another local subsidized “job creation” nightmare. WBTV reports that the NACA boiler-room workers have walked…
Bloomberg reports that serial taxpayer bailout recipient GMAC paid CEO Michael Carpenter and other top execs tens of millions of dollars last year. Carpenter got $1.2m. for 45 days of…
Super choice there, politicians. Despite receiving federal, state, county, and city bailouts worth billions and billions, GMAC will lose $10b. for 2009. Meanwhile, the AP continues to spread the false…
Uncle Sucker — ie, you and me — is lobbing another $3.8b. on the bonfire that is Charlotte’s very own GMAC. With that, the U.S. government is now the majority…
So, so glad the city of Charlotte, Mecklenburg County, the state of North Carolina, and Uncle Sam (twice, maybe another to come) bailed out the losers at GMAC. Half of…
A quickie supposition here. If GMAC’s mortgage arm ResCap is so unfixable that recognized fix-it guy Al de Molina could not fix it, and if Golden West is to Wells…
Ed Schulz explains that the opt-out is the first step to a single-payer system and set up to make sensible people the bad guys by playing with government money. It’s…