GMAC may get further bailout
China Daily | Updated: 2009-12-31 08:09
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A man leaves a GMAC Insurance office, a subsidiary of GMAC LLC, in Winston-Salem, North Carolina. The lender reported its eighth loss in the past nine quarters in November. Bloomberg News |
SAN FRANCISCO: GMAC Inc, the home and auto lender that counts the US government as the largest stakeholder, is discussing with the Obama administration a third bailout of $3 billion to $4 billion, said a person familiar with the matter.
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