G.M. (27% owned by the federal government) is close to making a bid on Ally Financials’ (74% owned by U.S. Government; 9.9% owned by G.M.) Latin American and European Operations, according to theWall Street Journal
So will the money G.M. uses be from its corporate performance or will it be a “Wash Sale” – a return of Government monies?
It sounds like money laundering if you or I did it, but they have lawyers and stuff so it must be okay, Right?
If you can figure out why GM’s repurchase of some of Ally operations from the U.S. Government to pay back the U.S. Government, while GM is still owned in part by the U.S. Government, is NOT Money Laundering, please let me know…