GMAC

[Txwalt]

I heard on the radio that GMAC is asking for their 3rd bail out. :???:

Walt

 

[grannysoo]

Is that the sound of a padlock that I hear in the background? :lol:

It's rather amusing. The gubmint bailing out itself.

 

[Bez+]

How much more can the taxpayer stand?

The debt will certainly become unmanageable at this rate

Governments cannot give to someone or something without taking from someone else

Bez+

 

[john250]

Let's cut out all the middlemen and put a crusher at the end of the assembly line. Build 'em. Crush 'em.

 

[Txwalt]

http://money.cnn.com/2009/10/28/news/gm ... 2009102811

Walt

 

[Bez+]

Let's cut out all the middlemen and put a crusher at the end of the assembly line. Build 'em. Crush 'em.

The old Soviet Union tried that - did not work - they still went broke

Bez+

 

[kerley]

So whats their problem Cars or large Mortgage losses or both. With Dodge and GM gone I guess we will be buying those new Fords.
Tom

 

[grannysoo]

The old Soviet Union tried that - did not work - they still went broke

Bez+

Yes they did. However the new Russia, with all its faults, is doing a few things right. When the Strait of Hormuz gets blocked in a conflict with Iran, who is going to be the new oil supplier to the world?

 

[TheBullLady]

I dunno.. it's hard for me to worry about other countries, when ours is going down the crapper pretty quickly.

 

[Bez+]

The old Soviet Union tried that - did not work - they still went broke

Bez+

Yes they did. However the new Russia, with all its faults, is doing a few things right. When the Strait of Hormuz gets blocked in a conflict with Iran, who is going to be the new oil supplier to the world?

Canada - who by the way is YOUR largest supplier I believe.

And it will be done with the new and massively large oil fields being developed in Canada by China - apparently planned to be the largest in the world - paid for by the American dollars they get from the Americans to pay the mortgage. They want to burn that money off and switch to Euro before yours collapses completely.

I think it starts next year or so. So first oil should be on line within three to five years.

Iran - not going to happen - I believe your administration has decided it will harass at best - Iran is quite willing to risk confrontation with you folks as middle east opinion - at least where I am now - is that you are so stretched and broke you cannot affort to react.

Time will tell as to the veracity of that opinion

Cheers

Bez+

 

[peg4x4]

I keep saying methan is the way to go for our energy.. We'll never run out of shi*.. Would clean up the enviroment too..Guess it's too simple,huh

 

[perda04]

I keep saying methan is the way to go for our energy.. We'll never run out of shi*.. Would clean up the enviroment too..Guess it's too simple,huh

More than just methane, they are looking to turn waste into petroleum like fuels with algea.

Gene scientist to create algae biofuel with Exxon Mobil

Gene scientist Craig Venter has announced plans to develop next-generation biofuels from algae in a $600m (£370m) partnership with oil giant Exxon Mobil.

His company, Synthetic Genomics Incorporated (SGI), will develop fuels that can be used by cars or aeroplanes without the need for any modification of their engines. Exxon Mobil will provide $600m over five years with half going to SGI.

"Meeting the world's growing energy demands will require a multitude of technologies and energy sources," said Emil Jacobs, vice president of research and development at ExxonMobil. "We believe that biofuel produced by algae could be a meaningful part of the solution in the future if our efforts result in an economically viable, low-net carbon emission transportation fuel."

Transport accounts for one-quarter of the UK's carbon emissions and is the fastest growing sector. Finding carbon-neutral fuels will be crucial to the government meeting its target to reduce overall emissions by 80% by 2050.

Algae are an attractive way to harvest solar energy because they reproduce themselves, they can live in areas not useful for producing food and they do not need clean or even fresh water. In addition, they use far less space to grow than traditional biofuel crops such as corn or palm oil.

"Algae consumes carbon dioxide and sunlight in the presence of water, to make a kind of oil that has similar molecular structures to petroleum products we produce today," said Jacobs. "That means it could be possible to convert it into gasoline and diesel in existing refineries, transport it through existing pipelines, and sell it to consumers from existing service stations."

 

[grannysoo]

How much more can the taxpayer stand?
Bez+

How much more can the taxpayer stand, or how much more will the taxpayer stand? Has our gubmint got us subjects in so deep now that it's impossible to get out through normal means?

 

[aplusmnt]

I heard on the radio that GMAC is asking for their 3rd bail out. :???:

Walt

Once you get on welfare it is hard to get off of it, generation after generation of people have shown this to be true!

 

[Ryder]

How much more can the taxpayer stand?
Bez+

How much more can the taxpayer stand, or how much more will the taxpayer stand? Has our gubmint got us subjects in so deep now that it's impossible to get out through normal means?

Yes. I think so.

 

[ollie?]

"GMAC is working with the Federal Reserve regarding the remaining capital requirements related to the stress test results," spokeswoman Gina Proia said. "We fully intend to comply with the requirement for additional capital related to the stress test."

Amazing. I would have surely said not in my lifetime. When did the federal reserve start working directly with bankruptcy candidates.