Quote:
Originally Posted by legion
Actually, if it is GMAC (the mortgage arm of GM) that is losing all the money, bailing out ARM-holders and bailing out GM are one and the same.
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That's right. This has nothing to do with car and truck production. GM (through GMAC) found itself the unwitting victim of sub-prime lending.
In fact, it's last quarter profits from car and truck production was at a record high worldwide.