The proper term is FASCISM, American.
Can't you RECOGNIZE IT when you SMELL IT?!!!!!
"For GMAC, billions more in federal aid" by Associated Press | May 21, 2009
NEW YORK - The Treasury Department is set to inject billions more dollars into GMAC Financial Services. The Wall Street Journal said Treasury will lend GMAC more than $7 billion, a step toward making it a quasi-federal entity with the power to offer low-interest loans to buyers of GM and Chrysler cars. The Detroit News put the amount at $7.5 billion.
Type "quasi" into my blog search for the fun experiences we've had with them in Massachusetts.
Does the looting come with the term, or.... ?
GMAC failed a bank "stress test" this month, and Treasury mandated it raise $11.5 billion within six months. GMAC received $5 billion from the Troubled Asset Relief Program in December, after the government approved its application to become a bank. The government received 5 million GMAC shares.
Translation: YOU received shares, taxpayer!
Analysts suggest the infusion, along with the merger of Chrysler's financial arm, would make GMAC a lending powerhouse that would give GM and Chrysler a huge advantage over their competitors - including Ford Motor Co., which hasn't taken any government aid....
Great, as they MOVE JOBS OUT of the COUNTRY!!!
Related: GM Stalls Out on America
Obama Administration Is Not Requiring GM To Maximize U.S. Jobs In Its Restructuring
But they will loan you the money to buy the import -- if you have a job, that is!
