BU Now » GMAC http://blogs.bu.edu/bunow News, information and research from Boston University Wed, 21 Sep 2011 18:14:24 +0000 en hourly 1 http://wordpress.org/?v=3.1.4 GMAC needs more bailout http://blogs.bu.edu/bunow/2009/10/28/gmac-needs-more-bailout/ http://blogs.bu.edu/bunow/2009/10/28/gmac-needs-more-bailout/#comments Wed, 28 Oct 2009 20:22:38 +0000 Dick Taffe http://blogs.bu.edu/bunow/?p=3537 GMAC logoTroubled consumer finance company GMAC reportedly needs more taxpayer bailout money, on top of the $12.5 billion it’s already received.  Robert Bench, an ex-deputy Comptroller of the Currency and now senior fellow at the Law school’s Morin Center for Banking and Financial Law, says it’s understandable because GMAC concentrated most of its risk on a selected consumer product – autos.

“It is exactly that risk that causes a dearth of private sector financial support for GMAC, requiring billions in federal financing to keep it operating.”

Contact Robert Bench, 617-353-5428, bobbench@bu.edu

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