GMAC LLC Receives $6 Billion Federal Bailout
ec. 30 (Bloomberg) — GMAC LLC, bolstered by a $6 billion federal bailout, resumed lending to General Motors Corp. customers with lower credit scores as the U.S. stepped up efforts to keep the automaker in business. The Treasury said yesterday it will take a $5 billion stake in Detroit-based GMAC, the financing arm of GM, and lend $1 billion to
More Articles
Cheney Defends Bush’s War Actions
Vice President Cheney offered an unabashed defense of the Bush administration’s claims of broad executive powers today, mocking criticism from Vice President-elect Joseph R. Biden Jr. and
Obama Announces Economic Team at Press Conference
In a press conference in Chicago, President-elect Barack Obama named his economic team on Monday. NY Federal Reserve President Timothy Geithner will be his Treasury Secretary. Former Treasury Secretary and Harvard President Lawrence Summers is Obama’s pick to be Director of the National Economic
President Bush Congratulates Obama on “Impressive Win”
The 43rd President of the United States, George W. Bush addressed the media for the first time in six days to offer his congratulations to President-elect Obama. He also offered praise for Sen. John McCain.
Florida’s Democratic State of Emergency: Record Turnout
Governor Charlie Crist said a “state of emergency exists” in Florida today after voters flooded the polls during the early voting periods. 1.2 million of Florida’s 11.3 million registered
McCain Has Trouble Controlling ‘Diva’ VP
After criticizing McCain’s robocalls in the past weeks, Sarah Palin reinvoked the humiliating $150,000 RNC shopping spree at another rally today. As Palin tries to control her ‘message’ by going rogue McCain advisers are now beginning