Tuesday, November 20, 2007
gmac credit problems
looks like gmacs stake in the number 2 HOME lender is causing the gmac 6% to go to 60 cents on the $1.00 these are not all that tradeable thought... 12 bond at 60% of value... you get 5.3 on the cap gains and 9.72 on the interest.... these are the $1000 units that have thier own market... offered new through fidility in 1's and scottrade in 3's (thousand)... when they are issued not that liquid