Bailout money finally at work

January 2009
Las Vegas Business Press (10712186);1/19/2009, Vol. 26 Issue 3, p24
The article comments on the bailout funds given to GMAC Financial Services, the troubled financing division of General Motors, by the U.S. government in 2008. It is noted that the move was aimed at easing the company's strict lending requirements that have made it harder for consumers to get automobile loans. According to GMAC, the direct result of government assistance will be that it will start offering automotive financing to customers with credit scores as low as 621. It cites that the decline in vehicle sales is attributable to tighter credit.


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