Finance

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GMAC’s Lifeline Arrives 

Dec 30, 2008By

The Treasury Department stepped into the auto industry in a big way Monday evening, when it agreed to invest $6 billion to stabilize auto financing giant GMAC LLC, “as part of a broader program to assist the domestic automotive industry.” Whether the infusion will help ailing mortgage arm Residential Capital, LLC, however, is another question entirely.

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Updated 11 months ago