[quote=paramount]Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM’s growth (…) The automaker is relying increasingly on subprime loans, 10-Q financial reports shows.
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GM Financial auto loans to customers with FICO scores below 660 rose from 87% of total loans in Q4 2010 to 93% in Q1 2012.[/quote] What will happen when GM Financial goes under? Uncle Sam will bail it out, of course. And it won’t matter whether Obama or Romney are in the White House.
