Is now the time to throw more money at this industry? Maybe GMAC is behaving better than others but this has to be the last place anyone wants to give money to during these lean times. Reuters:
GMAC Financial Services is close to getting about $3.5 billion in added aid from the U.S. government, on top of the $12.5 billion already received since December 2008, the Wall Street Journal reported.
The announcement is expected within days and will coincide with GMAC taking additional steps to absorb losses related to its mortgage operations, the Journal reported, citing people familiar with the situation.
