Re: [Pen-l] Re: financial melt-down

["Jim Devine" <jdevine03@xxxxxxxxx>]

the debate about whether GMAC can be called a bank or not is only
about definitions.

On Thu, Sep 18, 2008 at 11:39 AM, Sabri Oncu <sabri.oncu@xxxxxxxxx> wrote:
> Jim:
>
>> This is a matter of debate over definitions, not about actual knowledge.
>
> And, what is the actual knowledge here? Is it not the actual knowledge
> that GMAC borrows short-term and lends long-term? This is why they are
> in trouble, since they are not able to borrow short-term any more, is
> it not? By the way, WAMU seems to be going down, too!
>
> Sabri
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-- 
Jim Devine / "Nobody told me there'd be days like these / Strange days
indeed -- most peculiar, mama." -- JL.
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