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U.S. taking majority ownership of GMAC

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/30/AR2009123002049.html?hpid=topnews
DECEMBER 30, 2009


The federal government said Wednesday it will take a majority ownership stake in the troubled auto lender GMAC, providing another $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses.

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