GMAC Financial Services!

The U.S. Federal Reserve today gave way to letting GMAC Financial Services to become a bank holding company. By making way for this change GMAC Financial Services now can take on deposits and tap into the $700 billion bailout plan. And I’m sure that’s what they’re going to do, tap into the bailout fund. Some people think that if GMAC had to file for bankruptcy protection it would have destroyed GM as well. After all the two need each other to survive. These types of backroom deals by major companies and The Fed make me a little nervous. It seems lately that companies are getting away with all their past bad behavior. They do whatever they want, spend investors money freely and they when things hit the fan they come crying, it makes me sick. Now that we’ve bailout Wall Street and the major players in auto making the only question left to ask is, who’s next? After all the American people have been treated like a cash register. The only thing is, we’re not taking any money in, and we’re handing it out. The last time I checked that’s stealing, right?

I would also like to wish all my vistors a very Merry Christmas!