GMAC asking for fresh lifeline: WSJ

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GMAC asking for fresh lifeline: WSJ
Alert Email Print By John Letzing SAN FRANCISCO (MarketWatch) --

GMAC Financial Services Inc. is in advanced talks with the Treasury Department to receive a third round of taxpayer money, according to a Wall Street Journal report Tuesday. Citing unnamed sources, the report said the U.S. government is likely to inject between $2.8 billion and $5.6 billion in additional capital into the troubled lender. GMAC has already received $12.5 billion since December, the report said. The government's willingness to deepen taxpayer exposure to GMAC reflects its importance to the revival of the U.S. auto industry, according to the report.