PORTAL Finance Blog

Category Archives: GM

No kidding: History does truly repeat itself……

Over the course of my career, I continue to be amazed by the fads of the U.S. capitalist system.  In the 1970′s, there was the “conglomerate.”  A conglomerate really didn’t have a “core” business.  It consisted of numerous, far-flung operations … Continue reading →

August 4, 2010 at 3:10 pm | Automotive, GM

The Problem Children: Fannie Mae and Freddie Mac

Have you ever read an article and hoped that the math that they were using was wrong?  I just had that experience on Saturday while reading an article about Fannie Mae and Freddie Mac.  You didn’t forget about them did … Continue reading →

June 22, 2010 at 9:55 pm | AIG, Automotive, Chrysler, Fannie Mae, Federal Reserve Bank, Financial, GM, Investing, Real Estate

Treasury takes $2.1 billion loss on Chrysler loan

“Treasury says Chrysler will pay back less than half of $4 billion gov’t loan received in 2009″ What a great return on investment!  Are you kidding me?  What is there to blog about besides I told you so?  http://portalfinance.blogspot.com/2009/06/gm-files-bankruptcychrysler-assets-sold.htmlhttp://finance.yahoo.com/news/Treasury-takes-16-billion-apf-581812658.html?x=0&sec=topStories&pos=main&asset=&ccode=

May 17, 2010 at 10:33 pm | Automotive, Chrysler, GM

Hey! About that Loan….

Up until last week, the Greek government swore up and down that it would not require a bail-out.  After months of rhetoric, the European Union and the International Monetary Fund put a loan package together for Greece anyway; just in … Continue reading →

April 24, 2010 at 12:48 am | Automotive, GM

GMAC….losing again

In January, I bored everyone with how useless the U.S. taxpayer investments into GMAC were: http://portalfinance.blogspot.com/2010/01/its-groundhog-dayagain.html Now, the fun is beginning again.   A government watchdog, the Congressional Oversight Panel, issued a report on Thursday which detailed the folly of … Continue reading →

March 13, 2010 at 2:11 pm | Automotive, GM

It’s Groundhog Day……again

Courtesy of the U.S. taxpayers, GMAC received an additional $3.8 billion cash infusion last week.  Last week, for heaven’s sake!  In a carefully timed press release this week, GMAC reported a $5 billion dollar loss for the fourth quarter due … Continue reading →

January 6, 2010 at 2:06 am | Automotive, Chrysler, GM, Goldman Sachs, Investing, Real Estate, TARP

Fannie Mae needs $15 billion….This is a joke, right?

What an outstanding investment by the U.S. taxpayers!  “Our” finance company needs another $15 billion dollars in order to stay in business.  To add insult to injury, Fannie Mae’s management team offered the following gem:  “We do not expect to … Continue reading →

November 6, 2009 at 5:07 am | AIG, Automotive, Chrysler, Fannie Mae, Federal Reserve Bank, Financial, GM, Investing, Real Estate

FDIC to back $2.9 billion GMAC Loan

It can’t get any worse, can it?  The FDIC (of all people) is guaranteeing a new $2.9 billion loan for GMAC.  The rationale is that GMAC would have to reduce its lending volume if it is unable to raise the … Continue reading →

October 29, 2009 at 12:44 am | Automotive, GM, Real Estate, TARP

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