Minutes after Ally Financial, the bs-artist formerly known as GMAC, took its Residential Capital bankrupt, David Shepardson tweeted to his followers that all is fine:
“GM owns 9.9% of Ally Financial Inc, while
@USTreasuryDept owns 74 percent”
Isn’t that reassuring?
TTAC readers are not surprised by Ally’s ResCap going under. A bankruptcy by May 14 had been predicted. Shepardson is the Washington, DC Bureau Chief of the Detroit News.