May 252009
In for a dime, in for a dollar. “The GMAC funding is an illustration of how rapidly the government effort to rescue the U.S. auto industry is escalating in cost and scope.” (WSJ)
GM Borrows $4 Billion From U.S. to Push Loans to $19.4 Billion
General Motors Corp., facing rising cash needs before a June 1 bankruptcy deadline, tapped $4 billion more in U.S. aid to push its total to $19.4 billion.
Posted by Brian Schuettler at 5:33 am
