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Old 12-25-2008, 04:39 PM
MADDOG MADDOG is offline
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Interesting. It was reported a month or so ago that a possible merger of GM and Chrysler would be problematic until GMAC's status as a bank holding company was granted. Federal banking rules require that, in order for GMAC to become classified as a bank holding company, any non-bank holding company could not hold more than 24.9% of the asset.

What's interesting is that I've seen no news regarding Chrysler Financial Services and any attempt by them to be similarly classified...but they hold $11Billion in reserve so they probably are not willing to become one. And wouldn't GM love to get their hands on that amount of cash if they could swing an acquisition or merger as Cerberus (which has a majority ownership in Chrysler) would end up owning most of GM and Chrysler + have Chrysler Financial's assets as well.

Oh, what a wicked web!
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