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Old 31-12-2009, 10:59 AM   #1
Wally
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Default GMAC to become US QANGO
Some more news on the GM front

Quote:
GMAC Financial Services will get a new $3.8 billion bailout, giving the government a controlling stake in the company.
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Old 31-12-2009, 11:05 AM   #2
Fairlane
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More epic failure brought to you by GM. Obama is going to stuck owning GM for quite a while.
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Old 02-01-2010, 03:53 PM   #3
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Quote:
BY MEENA THIRUVENGADAM
WASHINGTON—The Treasury Department on Wednesday said it will provide GMAC Financial Services with an additional $3.8 billion in capital and assume a majority stake in the firm.

The money, along with adjustments to existing aid already provided to the firm, aims to close a capital shortfall identified by government stress tests in May. The additional aid brings the total U.S. investment in GMAC to $16.3 billion and raises the government's ownership interest to 56% from the current 35%.
http://online.wsj.com/article/SB1000...579461138.html
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