Close Close Comment Creative Commons Donate Email Add Email Facebook Instagram Facebook Messenger Mobile Nav Menu Podcast Print RSS Search Secure Twitter WhatsApp YouTube

Reports: $7.5 Billion More for GMAC

No suprise here: As part of the government's ever-growing bailout of the auto industry, GMAC, General Motors' financing arm, will receive about $7.5 billion from the Treasury today, according to numerousreports. GMAC emerged from the stress tests as the weakest of the 19 companies, and the administration has said that it would receive more aid. Its total bailout is now $12.5 billion, but the Wall Street Journalreports that GMAC could be receiving as much as $7 billion more.

Other links:
What the Banks Still Won't Tell Us (TNR)
Chrysler Plan Faces New Foes (WSJ)
BofA Seeks to Repay $45 Billion by End of Year (FT)
Geithner Says Treasury May Move ‘Quickly’ to Sell TARP Warrants (Bloomberg)
U.S. Rescue Aid Entrenches Itself (WSJ)

Latest Stories from ProPublica

Current site Current page