America, You Asked For It!

Political News and Commentary from the Right

$5 billion more for GMAC


Digg!

Not only did President Bush give the Three Little Piggies (GM, Chrysler, and by extension the UAW) more money than they asked for, but now the Treasury Department is throwing $5 billion more GM’s way.  That’s on top of the $1 billion included in Bush’s Socialist bailout for GM last week that was dedicated to propping up this appendage of GM.

You might have read the other day that GMAC, the financing arm of GM, was given bank holding company status by the feds, allowing them to qualify for assistance from the seemingly bottomless pit known as the TARP fund. Today, GMAC hit the $5 billion jackpot from this fund that was originally intended to keep the banking industry from collapsing.

This just goes to show there’s no telling how deep into our (taxpayers’) wallets these at best incompetent, at worst corrupt and dishonest companies will be before this bailout/stimulus/Socialist conversion of our economy is over. So far, between the banks and the Three Little Piggies and whoever else has transformed themselves into something that qualifies for the right to spend our money to save them from their inability to properly run their companies, we the taxpayers are on the hook for more than $8 trillion–and we’re nowhere near the end of it yet.

Merry Christmas Little Piggies!  Go to sleep knowing that we’re paying and our children will be paying to keep you fat and happy, warm and comfy, and full of Christmas cheer.


Digg!

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December 29, 2008 - Posted by | Bailout | , , , , , , ,

1 Comment »

  1. […] $5 billion more for GMAC […]

    Pingback by GM/GMAC Needs $5.6 Billion More. Really? « Oldhardhead's Weblog | November 12, 2009 | Reply


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