Reason Foundation

Reason Foundation

Another GMAC Bailout? Yay...

Anthony Randazzo
October 28, 2009, 12:58pm

In today's smack of the forehead news:

GMAC Inc., the lender that received two government bailouts totaling $13.5 billion, is in talks with the Treasury Department to receive a third lifeline, a person familiar with the matter said. The U.S. government may inject an additional $2.8 billion to $5.6 billion into GMAC, the person said, declining to be identified because the transaction hasn’t been completed.

Read the whole article from Bloomberg here.

Anthony Randazzo is Director of Economic Research

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