The vicious circle continues

So the cycle continues. Round and round we go, where we'll stop, everyone knows. Financial ruin deja vu. Let's all watch as, for the sake of increasing the all important sales figures, we continue to spin ourselves into financial ruin. VAT tax here we come baby.

GM to buy AmeriCredit to expand subprime lending (AP)

Written on July 22nd, 2010

AP – General Motors Co. will buy AmeriCredit Corp. for $3.5 billion, a deal that allows the automaker to expand loans to customers with poor credit and offer more leases, key areas where GM must grow to accelerate its car sales.