US pours another $7.5B into Chrysler, GMAC finance
Treasury has invested another $7.5 billion in GMAC LLC, including $4 billion to help finance the purchase of Chryslers, and $3.5 billion to shore up the former General Motors' affiliate's shaky capital base.
Treasury has invested another $7.5 billion in GMAC LLC, including $4 billion to help finance the purchase of Chryslers, and $3.5 billion to shore up the former General Motors' affiliate's shaky capital base. GMAC employs more than 1,000 up in Horsham.
Treasury announced this only after confirming, as expected, JPMorgan Chase & Co., Morgan Stanley, BB&T, and others have repaid a total of $68 billion in taxpayer investments, freeing themselves from onerous executive pay and spending scrutiny while leaving Citigroup, Bank of America, Wells Fargo and other major lenders still on the dole.