Henry Blodget: Tim Geithner Is Screwing You Again
Oct 28, 2009 at 5:18 PM
DailyBail in TARP, aig, bailout, bailout rant, bailout video, geithner, gmac, henry blodget, tim geithner, video, wall street, wall street

(Screenshot...video is below)

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You remember GMAC.  Bored by the mundane world of vehicle financing, they plunged into mortgage originations only to get stomped.  They've already received $12.5 billion via TARP since December 2008 (because TARP was designed to help auto loans, remember?...or was it the toxic muffler market?), and now Tim Geithner is preparing to offload another $5 billion to the strategically important entity.

Are you kidding me?  We can't get 1 billion for updates to air-traffic control infrastructure that relies on 1950s technology, but we got $18 billion for GMAC.

That's $18 billion of borrowed bamboozle being shoveled down a rat hole.

Don't miss this one.  Blodget offers an alternative GMAC rescue plan.


Video (4:52): Henry Blodget Talks GMAC, Tim Geithner & AIG Payouts At Par

Blodget's AIG-Geithner rail is the best part and begins at the 3-minute mark.

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