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Congratulations American taxpayers. The Obama Corporation (auto makers, banks, farms, lands, parking lots, student loans, housing, and businesses everywhere) has decided to go into the auto finance corporation--without clearly identifying the ownership of the firm.
The former lending arm of General Motors has been edging away from the GMAC name -- once short for General Motors Acceptance Corp. -- ever since it was spun off from GM in 2006.
It had created Ally Bank as part of its efforts to win deposits from retail-banking customers to provide another source of funding, and changed its corporate name from GMAC earlier this year.
Ally, which is 56% owned by the U.S. Treasury, said the name change for its retail auto lending would not affect services it provides GM and Chrysler buyers.
Oh, the just approved finance bill, Dodd/Frank (no relation) has hundreds of new regulations for banks loaning money--but EXEMPTED firms loaning money to purchase cars.
Now you know why. Corruption has many faces--Obama and his regime is the newest of the bunch.
More...
The former lending arm of General Motors has been edging away from the GMAC name -- once short for General Motors Acceptance Corp. -- ever since it was spun off from GM in 2006.
It had created Ally Bank as part of its efforts to win deposits from retail-banking customers to provide another source of funding, and changed its corporate name from GMAC earlier this year.
Ally, which is 56% owned by the U.S. Treasury, said the name change for its retail auto lending would not affect services it provides GM and Chrysler buyers.
Oh, the just approved finance bill, Dodd/Frank (no relation) has hundreds of new regulations for banks loaning money--but EXEMPTED firms loaning money to purchase cars.
Now you know why. Corruption has many faces--Obama and his regime is the newest of the bunch.
More...