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Big Lender GMAC Asks for More U.S. Aid

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GET BUSY, BAILOUT CZAR
"GMAC, the troubled consumer finance company, is seeking billions of dollars in additional federal aid, a move that would be its third taxpayer bailout and could give the government a majority stake in the company," the New York Times reported, citing people briefed on the situation. "GMAC and Treasury Department officials have been locked in negotiations over how to structure the third bailout as it approaches a crucial deadline in early November for shoring up its finances."
SOURCE:   New York Times

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