Some Questions about GMAC  I’m a little late to the GMAC bailout
story, but after reading all the newspapers and blogs I usually
read, there are still some things I don’t understand. I’m
particularly confused about the announcement that GMAC will
start lending to anyone with a credit score above 620, down from
their previous minimum of 700. (The median credit score in the
U.S. is 723.)  1. What is the relationship between GM and GMAC?
I know that Cerberus owns 51% of GMAC and GM owns the other 49%.
I also know that, in order to become a bank holding company,
both were forced to reduce their ownership stakes. In any case,
GMAC is an independent company that should not be run for the
benefit of GM. Its obvious that GM benefits if GMAC reduces its
lending standards. But how does GMAC benefit?  2. If a loan to
someone with a credit score of 621 was a bad idea on Monday, why
was it a good idea on Tuesday? The only theory I can think of
under which this makes sense is that GMAC thinks that loans to
people with cred