How do you define "investment"?
GMAC, the troubled former finance arm of General Motors, said on Monday that its chief executive, Alvaro de Molina, has resigned and will be replaced by Michael A. Carpenter, a former top executive at Citigroup.
The announcement comes as the firm closes in on a third bailout from the federal government. GMAC has already taken in $12.5 billion in lifelines from the Treasury Department, which now holds a 35 percent stake in the firm.
GMAC said in a statement that it has asked Treasury to postpone making a decision on a third investment in the company until Mr. Carpenter and his new management team get a better sense of how much money the lender still needs.
Hmmm ...
"Invest" - noun - : the outlay of money usually for income or profit : capital outlay; also : the sum invested or the property purchased
Treasury have an incredibly bizarre/criminal/confused definition of "investment" - shouldn't they be more conservative with taxpayer dollars?
