Since your taxpayer money grows on trees, the Obama Administration gave another round of funding to the tune of $3.8 Billion to home and auto finance company GMAC, giving the government a 56% ownership, making you the newest majority owner of GMAC.
This brings the government cash infusion into GMAC up to $16.3 Billion but who’s counting?
How can GMAC get out of this crisis, outside of having to ask Uncle Sam for more money? Should they freeze executive pay, should they sell off their mortgage servicing division (which would rake in a huge load) or should they stay put as they’re on the right course for recovery?
Now that you’re the majority owner, what do you think GMAC should do to steer this giant ship?