I am not a stock flipper and new Fed regulation is going to clamp down on that and other pracrtices this year as I see it. I am a longer term investor managing a portfolio of good stocks at these historical levels...
Also here is interesting news to see about GM/GMAC out this morning:
GMAC, GM Agree To Amend Financing Services Agreement
Last update: 1/2/2009 7:18:44AM
DOW JONES NEWSWIRES GMAC LLC said Friday that it agreed to amend its financing services agreement with General Motors Corp. (GM), allowing GM the option to offer auto financing incentives through a third-party financing source for two years under some circumstances. Under the original 2006 agreement, whenever GM offers financing incentives such as lower interest rates than market rates, it was obliged to do so through GMAC. GM received an annual fee from GMAC for granting the exclusive right to provide that financing, which was effective through November 2016. GM and GMAC agreed to finalize the amendment by March 29. In a filing with the Securities and Exchange Commission, GMAC said that after the two-year period, GM can offer any such incentive programs on a graduated basis through third parties on a non-exclusive, side-by-side basis with GMAC. After Dec. 24, 2013, GM will have the right to offer retail financing incentive programs through any third-party financing source, including GMAC, without any restrictions, the filing said.
