To: patron_anejo_por_favor who wrote (270661 ) 8/26/2010 2:11:36 PM From: Perspective Respond to Hadn't seen this before. I suppose there's no hope of a political block of the ACF purchase, though, if they get it done before the elections. Of course, they're not going to, as far as I know. Do you suppose that if the Pubs took over Congress, the ACF deal might get snuffed out, or is this just posturing?grassley.senate.gov About the purchase reported today, Grassley said, “If GM has $3.5 billion in cash to buy a financial institution, it seems like it should have paid back taxpayers first. After GM’s experience with GMAC, which left GM seeking a taxpayer bailout, you have to think the company and, in turn, the taxpayers would be better off if GM focused on making cars that people want to buy and stayed clear of repeating its effort to make high-risk car loans.”most of the government’s emergency loan to GM was converted to shares of stock during bankruptcy. That money can only be recovered if the government can sell its shares of GM at significantly higher prices than it is currently estimated to be worth.
