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President Obama has touted General Motors (GM) as a successful example of his administration's policies. Yet GM's recovery is built, at least in part, on the increasing use of subprime loans.
The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.
Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM's growth .......
Originally posted by KireDj
reply to post by xuenchen
President Obama saved the auto industry from total collapse. Ya know, middle class jobs. Deal with it. "Someone" thinks anything on Drudge is worthy of a thread.
Ya know, middle class jobs.
Deal with it.
Originally posted by SilentKoala
Cool, that means I can go out and get a brand spankin new car and future generations will have to pay for it