GMAC – “The most baffling bailout.”
The Congressional Oversight Panel’s March 2010 report takes on the GMAC bailout. It is not pretty, but it is revealing. You can read the complete report or the AP News story about it, but the bottom line is that may cost us taxpayers $6.3 billion.
Thank goodness for Elizabeth Warren, the Harvard law professor who is chair of the panel. She tells it like it is.