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GM To Offer Sub-Prime Loans Again.

What could go wrong ?

GM looks to banks to finance subprimes.

http://news.theage.com.au/breaking-news-business/gm-looks-to-banks-to-finance-subprimes-20100624-yzw7.html

General Motors Co is looking to boost auto sales by lining up banks and other financial institutions to make loans and lease deals for buyers with poor credit.

The talks lessen the likelihood of GM trying to buy the auto finance business from Ally Financial Inc, its main lender. They also make it less likely that GM would start its own auto financing unit.

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Not learning from past practices ?

Nope.

Insanity ?

Doubtful.

Deliberate ?

Gotta be.

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Riiiiiiiiing…….. Riiiiiiiiing……..

Hello, this is ‘x’ bank, now a division of ‘x’ holding company and overseen by Fannie, Freedie, The Fed and a very good looking rainbow-colored unicorn, how can we help you ?

Hi, this is your Dictator In Training Pants President Obama.  You do recognize my voice right ?

Yes Sir.

Good.  It’s nice to know you’re still in business – somehow.  Remember all that money we forced you to take lent you so we didn’t have to create a spectacle and simply march in and seize everything to make sure you didn’t collapse ?

Yes Sir.

I order you want you to give money at zero interest make some special loans available immediately.  In fact, I’d appreciate it if you’d actually offer positive interest to the loanees.  Pay them to borrow the money.

What ?!?….. Sir, are you out of you’r…………….

I am your leader President !  You will obey my every command listen and learn how things are done now.

Yes Sir.

Now then, here’s how it’s going to go down………….

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By the way….. Ally Bank = GMAC.

They won’t even lend to themselves !!!

Are we having fun yet ?

Kenny Solomon
Typical bitter Eeeeevil Jooooooooooowish God-clinging Constitution-loving gun owning barking-mad-insane NASCAR fan and a much better golfer than you-know-who.

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