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GMAC Needs More Bailout Money


Last Update: 11/11/2009 10:48 am
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GMAC is expected to receive more bailout money from the government.
 
The lending arm of GM is unable to raise the $11-billion regulators said it needs after undergoing stress tests.

GMAC has already received $12-billion in aid.

The Federal Reserve says that GMAC is the only one of 19 stress-tested banks that needs more capital to withstand losses if the economy softens.










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