GMAC to Receive $3.8 Billion More in Government Aid

GMAC, the ailing financing arm of General Motors, is set to receive $3.8 billion in government aid, ABC News has learned. The funds will be the third infusion of federal support for the troubled lender. The Treasury Department said that the latest injection of $3.8 billion was actually less than the $5.6 billion that it had expected to loan GMAC to keep the finance giant from collapsing. The latest government aid will bring the total federal assistance for GMAC to $16 billion when combined...Full Story
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