posted on Oct, 28 2009 @ 02:36 PM
reply to post by concerned190
GMAC, (which is technically a bank), is or rather was the in-house financial Division for General motors...GMAC was designated the new finance company
for Chrysler Group LLC dealers after the automaker filed for bankruptcy. You can thank the Fed for their relationship...
Back in April Cerberus Capital Management LP, which has substantial stakes in Chrysler and GMAC and owns all of Chrysler Financial, and the Obama
administration's auto task force decided to join these basically three already connected companies into one.
[edit on 28-10-2009 by DaddyBare]