Oct 30, 2008 -
Hey, Us Too!
Here's the problem with "bailouts". As soon as you start handing out money, people are going to start to line up to get it.
GMAC, the financing arm of General Motors Corp., is taking steps to become a bank holding company, potentially giving it greater access to the government's $700-billion financial bailout package, according to sources familiar with the matter.
Maybe the Alternate Route can be converted into a bank holding company and get in line for some cash too.
I wonder what other companies are going to suddenly discover their "inner bank" and try to get in line as well.
Read more in the LA Times story
