7.22.2010

Government Motors to get back into subprime lending with AmeriCredit purchase

The more things change, the more they stay the same.

Just days after Obama lied to Americans, saying "There will be no more taxpayer-funded bailouts. Period," while continuing to pour hundreds of billions into the twin black holes of Fannie Mae and Freddie Mac, Obama's Government Motors is getting back into subprime lending with the purchase of notorious subprime auto lender AmeriCredit.

2 comments:

the darkcloud said...

Pretty sad, ain't it WC?

They gave up GMAC, and now they are "back in the finance business", hoping to boost sales with a resurrection of the wonderment of credit.

Tragic comes to mind.

W.C. Varones said...

Only one way to save those Government Motors union jobs: easy-money scams to sucker poor people into buying new cars they can't afford!

¡Viva ObamaNation!

More stuff that broke around 1971

We've noted before  that a bunch of economic trends turned bad when Nixon closed the gold window and we launched into the current pure f...