GMAC Inc. (GJM) is close to getting about $3 billion to $4 billion in additional aid from the U.S. Government, media reports on Tuesday citing to people familiar with the situation.
A deal may be reached within days as GMAC incorporates losses from its home-loan businesses. The objective is to restore the company to profit in the first quarter of 2010, the people said.
The new capital would likely allow GMAC to avoid placing its ailing mortgage unit, Residential Capital LLC, or ResCap, into bankruptcy, the people said.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.