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U.S. taking majority ownership of GMAC

• godlikeproductions.com
U.S. taking majority ownership of GMAC Quote from an email from the Wash Post News Alert04:30 PM EST Wednesday, December 30, 2009 U.S. taking majority ownership of GMAC The federal government said Wednesday it will take majority control of the troubled auto lender GMAC, providing another $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses. GMAC, which already has taken $12.5 billion in direct federal aid along with other forms of government support, is the largest lender to General Motors and Chrysler dealerships and to their auto-buying customers. For more information, visit washingtonpost.com

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