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GM Is upping subprime loans in order to get more people into GM vehicles. In other words, they’re risking your investment of billions of dollars to pad their sales, setting them up for defaults, repossession and a credit crunch and doing it all while needing your money to bail them out.

Are they going to stop this?  Of course not.  Why should they?  If they fail and lose billions, we’ll just bail ‘em out again.

(via http://news.investors.com/photopopup.aspx?path=WEBgm0730.gif&docId=620090&xmpSource=&width=800&height=492&caption=)

28 July 2012 ·

• Tags
• gm
• bailout
• subprime
• credit
• economics