Tuesday, December 30, 2008

GMAC Receiving TARP Money

GMAC is going to be receiving about $6 billion to help stabilize the company. The Treasury has kept the funds flowing and it does not look to be stopping anytime soon. They announced that "The new program didn't have a specific dollar limit". The money indirectly benifits Cerberus, who is a 51% owner of GMAC. This brings to a total of almost $350 billion that the Treasury has dispursed from the original $700 billion which was approved a few months ago.

CLICK HERE to read the story in the Wall Street Journal.

Good Luck and Good Currency Trading



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