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Washington Reacts Negatively to Treasury Rescue Plan
Rep. Brad Sherman, D-Calif. , called parts of the reform package "TARP on steroids," referring to the $700 billion Troubled Asset Relief Program the Treasury has used to prop up ailing banks. Full Article at TechWeb
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WASHINGTON, Oct. 30 (UPI) -- Lawmakers and economists have expressed doubts about a major U.S. Treasury Department proposal to regulate future financial crisis. Rep. Brad Sherman, D-Calif. , called parts of the reform package "TARP on steroids," Full Article at TechWeb
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WASHINGTON, Oct. 30 (UPI) -- Lawmakers and economists have expressed doubts about a major U.S. Treasury Department proposal to regulate future financial crisis. Full Article at United Press International
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NEW YORK – GMAC, the former lending arm of General Motors Co. , is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government’s entrenchment in the auto industry. Full Article at Nashua Telegraph
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NEW YORK -- GMAC, the former lending arm of General Motors Co. , is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government's entrenchment in the auto industry. Full Article at The Washington Post
Related Quotes
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In Washington the company is viewed as an integral part of the U.S. auto industry’s restructuring ... Today’s news is consistent with our view that the government will continue as a financial backstop for GMAC.
SOURCE: Nashua Telegraph -
GMAC is the only one of the banks that went through the stress test to need additional government capital; all other institutions were able to raise any necessary capital from investors, and several paid back the taxpayers
SOURCE: Detroit News Online -
This is not an easy hurdle. But we are interested in looking and exploring whether, particularly on the liquidity side, there are things we can do
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