It appears that once I'm done sending my mortgage payment to GMAC here in about 21 months, I'll be sending my tax payments to GMAC for the next 21 years. They've been TARPED.
I was sorta hoping GMAC would fail and I'd be able to write down my mortgage debt to them. Unfortunately, with their bailing they're gonna stick around for a while longer and now I still gotta make my mortgage payment.
Damn.
The number floating around the web is $6,000,000,000, which means you and I will be sending twenty tax dollars each to help keep my mortgage financing company in business. This shot in the arm will allow them to float even more credit to over-extended Americans to buy cars they don't want and can't afford, while the rest of our tax dollars will go to build several hundred thousand miles of new roads and bridges we'll need to carry all these newly financed vehicles. A solid use of our tax dollars, eh?
Out comes the flick knife, slicing off hunks of future wealth and feeding it to the newly approved bank holding company of GMAC.
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