[lbo-talk] GMAC, Cerberus, and ResCap

John Harp xjohnharpx at gmail.com
Sun Nov 23 13:28:16 PST 2008


Sorry, I didnt mean to direct my question at lbo specifically. The typical discourse I see from talking heads has taken the same trajectories of ignoring the immediate reasons.

Like clockwork though, GMAC is now transforming into a bank for TARP money? http://www.bloomberg.com/apps/news?pid=20601087&sid=anIixLC0.z_Q&refer=home

Why bother going to Washington for hearings or ridicule then? I don't understand this part of the sideshow.


> No one said they have nothing to do with the industry's problems. But for
> years, gains in finance offset losses in vehicle production. Now there are
> losses in finance too.
>
> On your numbered points, you do have to won
der how the US auto companies'
> management have been so bad for so long. And, to be honest, it's going to be
> hard to get a lot of working class solidarity for the rescue of the UAW; how
> much sympathy would a Walmart worker have for someone making $50-70/hour?
>
> Doug
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> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>



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