Update on: Fed Gobbles Up GMAC En Route To 666 12-26-08 "a total loss of controlling ownership of the company, now makes GMAC essentially nothing more than just another branch of the unaccountable entity that calls itself the Federal Reserve." [see post]
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U.S. takes majority stake in GMAC, giving lender $3.8 billion more in aid
The federal government said Wednesday that it will take majority control of troubled auto lender GMAC and provide an additional $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses.
...even as the government deepens its involvement in mortgage financiers Fannie Mae and Freddie Mac -- and now, GMAC.
The government now owns majority ownership stakes in those three firms, General Motors and insurance giant American International Group. It also holds large stakes in Citigroup and Chrysler.
Treasury said that it will increase its stake in GMAC to 56 percent from 35 percent. The government also will hold about $14 billion in what amounts to loans that GMAC may eventually repay. The government plans to appoint four of the company's nine directors.
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Open dictatorship
And another one down, another one down, another one bites the dust...
***
U.S. takes majority stake in GMAC, giving lender $3.8 billion more in aid
The federal government said Wednesday that it will take majority control of troubled auto lender GMAC and provide an additional $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses.
...even as the government deepens its involvement in mortgage financiers Fannie Mae and Freddie Mac -- and now, GMAC.
The government now owns majority ownership stakes in those three firms, General Motors and insurance giant American International Group. It also holds large stakes in Citigroup and Chrysler.
Treasury said that it will increase its stake in GMAC to 56 percent from 35 percent. The government also will hold about $14 billion in what amounts to loans that GMAC may eventually repay. The government plans to appoint four of the company's nine directors.
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Open dictatorship
And another one down, another one down, another one bites the dust...
"The government" will take majority control, "the government" will appoint directors. And nothing more than a slight hiccup was heard from the beast that is swallowing America whole.
Next on the list is the medical industry...but wait..look over there...it's a bomb on a plane...oh my...and Tiger Woods...and Charlie Sheen....yada yada....a never ending stream of garbage.
Next on the list is the medical industry...but wait..look over there...it's a bomb on a plane...oh my...and Tiger Woods...and Charlie Sheen....yada yada....a never ending stream of garbage.
The Zionist Bureau of Propaganda never sleeps, never misses the proper timing to divert attention. Be not diverted. They are coming for your soul. Rev. 18:4
see also: U.S., Canadian Governments Taking Over Auto Industry In 'Joint Venture' 12-20-08
and: NWO: Shutting Down America Piece By Piece [follow links, connect dots]
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1Thessalonians 5:6 "Therefore let us not sleep, as do others; but let us watch and be sober"
see also: U.S., Canadian Governments Taking Over Auto Industry In 'Joint Venture' 12-20-08
and: NWO: Shutting Down America Piece By Piece [follow links, connect dots]
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1Thessalonians 5:6 "Therefore let us not sleep, as do others; but let us watch and be sober"
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