GMAC
U.S. bailout watchdog criticizes Treasury over GMAC
...repaying taxpayers. "More than a year has elapsed since the government first bailed out GMAC, and it is long past time for taxpayers to have a clear view of the road ahead," the...
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TARP Oversight Panel Finds Fault With GMAC Bailouts
...GMAC with greater lenience than it did G.M. and Chrysler: it did not wipe out GMAC's equity holders, require GMAC to plot a return to viability, or prod the company to use taxpayer...
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Federal panel: GMAC bailout will cost taxpayers $6.3B
Unlike GM and Chrysler's bankruptcies, the panel said, the government bailout of GMAC did not require GMAC to present a viable plan for restoring profits, or offer a detailed...
Oversight panel blasts $17.2 billion bailout of GMAC
...GM. •Require GMAC to write a viable plan for a return to profitability. •Require GMAC to explain how it would use taxpayer funds to increase consumer lending. •Come up with an exit...
Chances missed at GMAC to protect taxpayers: panel
...12:05 a.m. EST · Recommend · Post: Treasury didn't protect taxpayers enough at GMAC: COP Watchdog suggests merging GMAC back into General Motors WASHINGTON (MarketWatch) -- The...
"In light of the scale of these potential (taxpayer) losses, the panel is deeply concerned that Treasury has not required GMAC to lay out a clear path to viability or a strategy for fully repaying taxpayers. "More than a year has elapsed since the government first bailed out GMAC, and it is long past time for taxpayers to have a clear view of the road ahead," the panel said in the report. The Treasury has said a bankruptcy for GMAC would have been too costly, requiring $40 billion to $50 billion in taxpayer-supplied debtor financing because it would have been the sole source of critical dealer "floorplan"
U.S. bailout watchdog criticizes Treasury over GMAC Reuters | 1 hour ago
GMAC Bailout Could Cost Taxpayers $6.3B
New watchdog report says the Treasury Department sank billions into auto finance giant GMAC without an exit strategy or proof the company was viable - a decision that could cost taxpayers...
Oversight Panel report says GMAC bailout could cost taxpayers $6.3 billion
Latest Local Business, Financial and Economics News Oversight Panel report says GMAC bailout could cost taxpayers $6.3 billion WASHINGTON -- The Treasury Department sank billions into...
Watchdog: GMAC bailout could cost taxpayers $6.3B
...Elizabeth Warren said in a conference call with reporters. She said Treasury didn't make GMAC show how it would return the taxpayer money, or how the investment would increase credit to...
GMAC Bailout Could Cost Taxpayers Billions
...from GMAC," the panel said. "More than a year has elapsed since the government first bailed out GMAC, and it is long past time for taxpayers to have a clear view of the road ahead."
Where Is GMAC Exit Strategy? Asks Panel
...watchdog said in a report Thursday. "More than a year has elapsed since the government first bailed out GMAC, and it is long past time for taxpayers to have a clear view of the road...
GMAC's CFO is leaving
...has presided in the CFO role during some of the most critical moments in GMAC's history and we thank him for his service," GMAC spokeswoman Gina Proia said. Hull was part of a wave of...
