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Real Estate & Property Law

: Housing Wire

Treasury Pumps $3.8bn More Into GMAC

By JON PRIOR

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The U.S. taxpayer now owns a majority interest in GMAC Financial Services, which this week received a capital infusion of $3.79bn from the US Treasury Department. The latest government-led effort to bolster GMAC’s capital base comes as part of a year-end effort to close a capital shortfall, per government stress tests conducted in May 2009. The [...]

Full post as published by Housing Wire on December 31, 2009 (boomark / email).

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