Friday, May 22, 2009
GMAC receives $7.5 billion in new Treasury aid
Government gives auto lender GMAC more money to shore up capital, loan to Chrysler car buyers
To help GMAC raise additional funds, the Federal Deposit Insurance Corp. took the rare step Thursday of allowing the junk-rated company to gain access to its debt guarantee program. GMAC will be allowed to issue as much as $7.4 billion in debt, guaranteed by the FDIC in case the company defaults on payment...
AP - Yahoo! Finance: GMAC receives $7.5 billion in new Treasury aid
To help GMAC raise additional funds, the Federal Deposit Insurance Corp. took the rare step Thursday of allowing the junk-rated company to gain access to its debt guarantee program. GMAC will be allowed to issue as much as $7.4 billion in debt, guaranteed by the FDIC in case the company defaults on payment...
AP - Yahoo! Finance: GMAC receives $7.5 billion in new Treasury aid
Permalink posted by markw @ 7:16 AM 
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