Government giving GMAC $7.5B in new aid

May 21, 2009 3:59:13 PM PDT
The government is providing auto lender GMAC with $7.5 billion in fresh aid to enable it to make new loans for General Motors Corp. and Chrysler LLC vehicles. The Treasury Department announced the investment on Thursday, saying it would help provide a reliable source of financing to auto dealers and customers looking to buy vehicles.

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