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Bailout
: Calculated RiskGMAC to Receive $7.5 Billion from Treasury
By Anonymous
The Treasury Department is preparing to announce as early as today that it will invest an additional $7.5 billion in GMAC LLC in a deal that could allow the U.S. government to hold a majority stake in the Detroit-based auto finance company.The Stress Test results showed GMAC needs another $11.5 billion in capital, so there is probably more coming.
Full post as published by Calculated Risk on May 20, 2009 (boomark / email).
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