GMAC Loosens Credit Reins After $6 Billion Treasury Loan
The U.S. Treasury has agreed to lend $6 billion to GMAC LLC (GOM), the financing arm of General Motors Corp. (GM) ... banking industry with plans to access even more funds from the Treasury’s Troubled Asset Relief ... . To raise that $30 billion, GMAC – owned by GM and Cerberus Capital Management L.P. – convinced about 75 [more...]
Date: 2008-12-31 12:20:33
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GMAC Loosens Credit Reins After $6 Billion Treasury Loan
The U.S. Treasury has agreed to lend $6 billion to GMAC LLC (GOM), the financing arm of General Motors Corp. (GM) ... banking industry with plans to access even more funds from the Treasury’s Troubled Asset Relief ... . To raise that $30 billion, GMAC – owned by GM and Cerberus Capital Management L.P. – convinced [more...]
Date: 2008-12-31 16:23:22
Where to next? The World’s economy in 2009
Will Brown looks ahead to 2009 and suggests it’s not a good time to be a capitalist ... management. These lessons have been learnt and the bold action taken by the Fed and the Bank of England ... of us who are not wealthy. But if there is a general fall in asset prices (land, houses, shares); retail prices [more...]
Date: 2009-01-04 08:50:14
Stop Calling It An "Industry" Too By: Mark W Adams
You can stop calling banks or investment firms a financial services "industry" while you're at it ... debt into a valuable asset by slicing and repackaging questionable mortgages into default-swap bond ... , the heirs to the gentrified aristocracy who now inhabit upper management high rise offices across [more...]
Date: 2008-12-19 20:14:00
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