Your Tax Dollars At Work: GMAC To Get $3.5 Million Lifeline

Washington -- The Treasury Department plans to announce early this afternoon that it will give GMAC Inc. around $3.5 billion in additional capital, sources said.

Detroit-based GMAC and the Treasury Department have been in talks for months to finalize the amount of money the company would receive. The Treasury Department said earlier this year it would invest up to $5.6 billion more in GMAC -- on top of $13.4 billion GMAC has received over the last year.

GMAC spokeswoman Gina Proia declined to say how much the company expected to get.


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upwards - 12/30/2009 12:10:38 PM

0 Boost

Old news.

Mason3Robert - 12/30/2009 12:30:50 PM

+2 Boost

Million or Billion?? lol

FanboyOfTheTruth - 12/30/2009 2:07:27 PM

+6 Boost

It's AutoSpies. Who cares about accuracy, particularly in a headline made up by 009?

ThierryHenry14 - 12/30/2009 6:04:55 PM

+1 Boost

Billions... $3.5 Million in the banking industry barely gets you anything...

cantaffordone - 12/30/2009 3:52:29 PM

-1 Boost

They are not my taxpayer dollers ... they are my as yet unborn grandchildrens taxpayer dollars. These clowns ahve rfar exceeded the total taxes I have or will ever pay.

ruffytdog - 12/31/2009 1:13:10 AM

+2 Boost

$3.5mil will buy them 10 more minutes... lol

AdmiralT20 - 12/31/2009 10:39:52 AM

+2 Boost

And the point of the Headline is......

kablaam - 12/31/2009 8:33:16 PM

+1 Boost

GMAC is now re-branded as Ally bank and they are flooding television with ads.

theman440 - 12/31/2009 10:28:55 PM

+2 Boost

So now we can borrow our own money to buy a car ?