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REPORT: GMAC gets another $7.5B from U.S gov't.
According to The Detroit Free Press, the U.S. Treasury has dumped another $7.5 billion into GMAC's coffers just two weeks after the bank was told by federal regulators that it needed billions in order to survive. In another government-backed boost, GMAC is now allowed to issue FDIC-insured debt. Both actions are reportedly designed to help restore faith in the damaged U.S. credit markets. Founded in 1919, and traditionally a longtime lender to General Motors dealers and customers, the government recently ordered GMAC to extend the same lending ... Read more →
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REPORT: GMAC gets another $7.5B from U.S gov't. 7 months ago on Autoblog
According to The Detroit Free Press, the U.S. Treasury has dumped another $7.5 billion into GMAC's coffers just two weeks after the bank was told by federal regulators that it needed billions in order to survive. In another government-backed boost, GMAC is now allowed to issue FDIC-insured debt. ...
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