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To: Seismo who wrote (45029)	1/31/2013 11:55:13 AM
From: Steve Felix	Respond to of 220698

Exactly! Auto bailout. lol! I've got a buddy in foreclosure. He could use a couple bucks but.... Great reading on the Sigtarp site: sigtarp.gov Taxpayers invested in GMAC because of its auto financing business, but GMAC also has used TARP funds to cover losses in its subprime business. Because of ResCap’s losses and other issues, GMAC/Ally has failed Federal Reserve stress tests designed to gauge financial stability, resulting in the Federal Reserve requiring GMAC to raise additional capital. The company did so largely through three taxpayer-funded TARP injections totaling $17.2 billion, of which the Office of Management and Budget estimates taxpayers will lose $5.5 billion.