naked capitalism Thu 2009-11-19 10:49 EST

GMAC has been nationalized

Edward Harrison of Credit Writedowns

And you thought the bailouts were over and market discipline might be restored. Not a chance -- the bailouts will continue, come hell or high water. The latest demonstration of this is GMAC, where the government will now be majority owner. GMAC has officially been nationalized. Now the government is running auto financing in addition to running the companies making the cars.

GMAC; naked capitalism; nation.

Wed 2008-03-26 00:00 EDT

naked capitalism: Wolf: Free Market Capitalism Just Passed Its Peak

"Bear Stearns bailout as the high water mark of free market capitalist ideology."

Free Market Capitalism Just Passed; naked capitalism; peak; Wolf.