Various reports:
GMAC says it doesn’t have sufficient capital to become a bank-holding company, and warned it will drop the effort if more bondholders don’t agree to its $38 billion exchange offer.
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What objective standards were used? Was the downside risk greater than that of GS and MS? (Don’t make me laugh!)
They just don’t have the necessary political pull. That’s the difference.
do you think we are looking at a GMAC collapse?