I stand corrected on Bauer Financial.
Nevertheless, I stick by my prediction on GMAC Bank. See this
Reuter's article:
Quote:
If GM does not sell a majority stake in GMAC, GMAC's ratings would be lowered to the level of GM's, Sprinzen said. S&P has long rated GM and GMAC the same because of the control GM has over GMAC and because their businesses are intertwined.
A GM bankruptcy would ultimately lead to one at GMAC, Sprinzen added.
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Frankly, I couldn't care less whether people do or do not save their money in GMAC Bank or any other bank. Just trying to offer people a more rounded view of where they're putting their money.