Quote:
Originally Posted by meissen
GMAC renamed to Ally, and as far as I knew I thought Ally was no longer owned by GM... If I'm wrong, I'll be happy to admit it (as I did when I mentioned I forgot about GM Financial). It doesn't change the fact that GM doesn't finance the auto loans. A subsidiary, sure, but not GM.
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gm owns 9.9 percent of ally and the us gov owns 74 percent. Those are the facts. I don't think it really matters if ally fails. its not like it will hurt gm in the long run. What will hurt gm is cost of labor and retirment just like it has before. The headline should be that the US GOV is giving out loans to people that can't pay them back!