Democracy Now: Treasury Announces Another Bailout of GMAC
In business news, the Treasury Department has announced a third bailout for GMAC, the financing arm of General Motors. The Treasury will inject $3.8 billion into the company, and the US government will boost its stake in the firm to 56 percent. The money comes on top of $12.5 billion that the US Treasury had previously invested in GMAC to keep it afloat as the lender of choice for car buyers and dealers at GM and Chrysler.
Aware and Outraged 