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Between the Hedges: Wednesday Watch
Calculated Risk: Report: GMAC in Talks for Bailout, and Summary
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GMAC Asks for Fresh Lifeline (WSJ) http://tinyurl.com/ygz3ky9 sink hole policies 10/29/2009 |
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REVISED GMAC/Ally Bank presses Fed for more $ to add to 12.5 Billion (that's right Billion) since December. http://is.gd/4GeRw 10/28/2009 |
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GMAC/Ally Bank presses Fed for more $ to add to 12.5 Million since December. http://is.gd/4GeRw 10/28/2009 |
Wednesday Watch
Between the Hedges —
... . Wall Street Journal: - In a stark reminder of how some battered financial firms remain dependent on government lifelines, GMAC Financial Services Inc. and the Treasury Department are in advanced talks to prop up the lender with its third helping of taxpayer money, people familiar with the matter said. The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into the Detroit company, on top of the $12.5 billion that GMAC has received since December 2008 , these people said. The latest infusion would come in the form of preferred stock. The government's ...
Report: GMAC in Talks for Bailout, and Summary
Calculated Risk —
... From the WSJ: GMAC Asks for Fresh Lifeline. The WSJ is reporting GMAC is in "advanced" talks with Treasury for another bailout: "The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into [GMAC], on top of the $12.5 billion that GMAC has received since December 2008 ... " ...
Black Holes
Bear Mountain Bull —
... : From the WSJ: GMAC Asks for Fresh Lifeline . The WSJ is reporting GMAC is in “advanced” talks with Treasury for another bailout: “The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into [GMAC], on top of the $12.5 billion that GMAC has received since December 2008 … “ It just never ends. It would be hilarious if it wasn’t so sickening. Update: I see I’m not the only one with the ‘black hole’ image: ...
Tech Stocks Heading For The Rocks? (Market Update)
SmartMoney.com —
... The Treasury Department is in advanced talks with GMAC Financial Services about a possible third cash infusion. The government is likely to inject $2.8 billion to $5.6 billion of capital into the big auto lender, on top of the $12.5 billion that GMAC has received since December 2008, according to anonymous sources in the Wall Street Journal. LINK ...
Least Surprising Headline of the Day
Cafe Hayek —
GMAC Asks for Fresh Lifeline
Lender in Advanced Talks for Third Slug of Taxpayer Cash — at Least $2.8 Billion More
- from today’s Wall Street Journal ...
Some Praise and Questions for the US Treasury
The Aleph Blog —
... . Far better to liquidate such institutions rather than bailing out the holding companies (what idiocy!). That said, why would we give more money to GMAC? It is not critical in a systemic sense. Let it go under. ...
Why another GMAC bailout is (especially) bad for America
BloggingStocks —
... ) is seeking a third round of bailout funds from the Treasury Department ranging from $2.8 billion to $5.6 billion. This is, the WSJ writes, "a stark reminder of how some battered financial firms remain dependent on government lifelines." ...
