The third GMAC bailout: While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Timothy F. Geithner, secretary of the treasury, announces that General Motors Acceptance Corporation will be receiving another 3,800,000,000,000 “dollars” in Federal loan guarantees. This brings to 16,000,000,000 “dollars” to total of government aid that GMAC has received.
[added 2/22/2022]
Subsequent Events:
References:
GMAC Financial Services to Receive Government Aid Federal Bailout – ABC News
abcnews.go.com/Business/Politics/federal-bailout-gmac-financial-services-receive-government-aid/story?id=9449537
Treasury to Give $3.8 Billion More to GMAC in a Third Taxpayer Bailout – The New York Times
www.nytimes.com/2009/12/31/business/31gmac.html
US takes controlling stake in GMAC in third bailout | World News
zeenews.india.com/home/us-takes-controlling-stake-in-gmac-in-third-bailout_591581.html
Current U.s. National Debt:
