US Treasury To Purchase $5 Billion Senior Preferred Equity From GMAC - CNN MoneyWASHINGTON -(Dow Jones)- The Treasury Department says it will buy $5 billion in senior preferred equity with an 8% dividend from GMAC LLC. The purchase is part of a broader program to help the auto industry become financially viable. Under the
GMAC Gets $6 Billion From Treasury to Help Revive Auto Lending - BloombergDec. 30 (Bloomberg) -- The U.S. Treasury committed $6 billion to support GMAC LLC, the financing arm of General Motors Corp., widening the government’s effort to keep the largest U.S. automaker out of bankruptcy. The Treasury will purchase a $5
FACTBOX: Where has the U.S. bailout money gone? - ReutersWASHINGTON (Reuters) - The U.S. Treasury Department said on Monday it was tapping a $700 billion financial rescue fund to purchase $5 billion in equity in auto and mortgage lender GMAC LLC and increase its previously announced lending to General
Government offers $6 billion to support auto lender GMAC - ReutersWASHINGTON (Reuters) - The government said on Monday it was pumping $5 billion into auto and mortgage lender GMAC LLC and lending up to $1 billion to automaker General Motors, ensuring the solvency of a company considered crucial to GM's survival
