U.S. Treasury secures $6 billion in aid for GMAC
December 29, 2008 by Cam Shaft
Filed under Auto Industry News
The U.S. Treasury on Monday announced it will be making $6 billion in Troubled Assets Relief Program (TARP) money and other funding available to troubled car lender GMAC. The Cerberus and GM-owned entity will get $5 billion in TARP funds plus another $1 billion from a Treasury-backed General Motors purchase of GMAC equity.
Last week the [...]
