Jamesb101.com

commentary on Politics and a little bit of everything else

GMAC will be getting more money….again

GMAC…..the mortgage and lending people…not the car people…. are going to get another $3.5 billion to help it get back on its feet……the money will come from the tarp funds set aside last year…….

Despite the government aid, GMAC remains on shaky financial ground. Last month, it reported a quarterly loss of $767 million. The company has struggled under the weight of its ailing mortgage lender, ResCap. The unit was a major dealer in sub-prime mortgages and is still suffering from soured loans it made during the housing boom. Some analysts have speculated that GMAC might have to shut down ResCap altogether.

However, a bright spot for GMAC has been Ally Bank, its online consumer banking unit. The bank has offered some of the highest interest rates on CDs in the industry, helping bring in billions of dollars in new deposits this year. But the rates have also irked rivals and drawn the attention of regulators, since as the rebranded banking unit of GMAC, Ally has the backing of billions of government dollars loaned to GMAC.

the company will probably need another infusion of about $2 to 5 billion……

What’s another billion here or there?

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December 30, 2009 Posted by | Breaking News, Government, Media, Politics, The Economy | , , | Leave a comment

Are China’s banks actually having trouble?

The Wall Street Journal is reporting in a little noticed piece, that China’s bank’s may be having trouble, like everyone did, six months ago……The piece goes on to say that their profits may in fact be just driven by expansion and may not reflect the sum of their assets?…hum??????

Didn’t they lend this country a boat load of money a few months ago?

November 2, 2009 Posted by | Breaking News, Media, Politics, The Economy | , , , | 11 Comments

Are China's banks actually having trouble?

The Wall Street Journal is reporting in a little noticed piece, that China’s bank’s may be having trouble, like everyone did, six months ago……The piece goes on to say that their profits may in fact be just driven by expansion and may not reflect the sum of their assets?…hum??????

Didn’t they lend this country a boat load of money a few months ago?

November 2, 2009 Posted by | Breaking News, Media, Politics, The Economy | , , , | 11 Comments

AIG and Breakstone both post profits……..

AIG, the ailing insurance giant that you and me bailed out, along with Warren Buffets’ Breakstone Corp have posted profits, folks……..with the market coming back, expect more of this…..just one thing…..We all expect the government to make its money and interest back from the AIG’s and banks that got loans………

August 10, 2009 Posted by | Politics, The Economy | , , , , , , , | Leave a comment