GMAC, U.S. Government Said to Discuss $4 Billion More in Aid

Dec. 29 (Bloomberg) — GMAC Inc., the home and auto lender, is discussing with the Obama administration an additional aid package of about $3 billion to $4 billion, according to a person familiar with the matter.

The size of the assistance remains under negotiation, the person said on condition of anonymity because the talks are private. A deal may be reached within days as Detroit-based GMAC incorporates losses from its home-loan businesses, the person also said. The objective is to restore the company to profit in the first three months of next year, the person said.

@#$%&! ‘em
What’s the government going to do, prop up the entire housing/home loan market.?

- shorty

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