The federal government said Wednesday that it will take majority control of troubled auto lender GMAC and provide an additional $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses.
auto lenderU.S. to give $3.8 billion more in aid to GMACDigg - Business & Finance Thu, 01/07/2010 - 09:37
Treasury, GMAC in talks for 3rd round of US aidTopix - Business News Wed, 10/28/2009 - 06:57
GMAC Financial Services is in talks with the Treasury Department for a third injection of taxpayer aid as the auto lender faces a November deadline to raise the $11.5 billion capital cushion mandated by results of the government's "stress test" earlier this year. GMAC prices $4.5 billion debt offeringNewsvine - business Wed, 06/03/2009 - 20:43
Auto lender GMAC Financial Services on Wednesday said it has priced a $4.5 billion note offering guaranteed by the Federal Deposit Insurance Corporation under its temporary liquidity guarantee program. Tags:
Government now has 35.4 percent stake in GMACNewsvine - business Tue, 06/02/2009 - 14:46
The government now has an equity stake in auto lender GMAC Financial Services after providing $12.5 billion in aid to keep loans flowing to buyers of GM and Chrysler cars, the Treasury Department said Tuesday. GMAC to get $7.5 billion in new federal aidMSNBC.com: Business Thu, 05/21/2009 - 16:35
The government is providing auto lender GMAC with $7.5 billion in fresh aid to enable it to make new loans for General Motors Corp. and Chrysler LLC vehicles. GMAC may be getting more U.S. aidMSNBC.com: Business Thu, 05/21/2009 - 08:49
The government is close to providing auto lender GMAC with billions of dollars in fresh aid, according to people with familiar with the matter. AP sources: Government mulls fresh aid to GMACNewsvine - business Thu, 05/21/2009 - 08:35
The government is close to providing auto lender GMAC with billions of dollars in fresh aid, according to people with familiar with the matter. |
