Just when you think there might be some sanity returning to the world, something comes to slap you upside the head to make sure you’re paying attention. Ready?…………….
General Motors, yes, the same car company the Federal Government had to take over. The same company that made bad deals, over-loaded its books with unsustainable debt, and much, much more, is now really going to boost its sales. How you might ask? The same way we had such a great housing boon. GM announced today that it is buying a finance company, not just any finance company, but a company that specializes……wait for it……….. In “sub-prime” auto loans. Loans so that people with less than perfect credit can purchase a car more easily. Wow, is all I can say.
I wrote an article before on why GM might never lose that “Government Motors” moniker. How prescient is that now.
If it all goes the way of Fannie Mae, and Freddie Mac. Looks like Fannie and Freddie will be able to use the drive-up window to get at the ATM machine (American Tax Money) because they’ll be seated in a new Cadillac.
And you thought Green Cars meant fuel efficient……Silly You!