On Bailouts, Hypocrisy, and Circular Errors

This morning I came across a piece in the Huffington Post about Ally Bank.

It seems that Ally according to the author did not join a settlement with federal regulators with regard to foreclosure abuse of its customers.

This is notable because Ally Bank was once known as GMAC, the GM stands for General Motors, yes, the same General Motors bailed out by the federal government in 2008/9.

In fact, Ally Bank is still 74 percent owned by the US Government.

The story goes on to say how Ally Bank is now negotiating with federal regulators over the foreclosure abuse situation.

Am I missing something, but doesn’t this mean the government is negotiating with themselves?

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