UPDATE 2-U.S. puts up $6 bln to support auto lender GMAC

Newswire

(Adds details, byline) By Mark Felsenthal WASHINGTON, Dec 29 (Reuters) - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion. The action was the latest in a lengthy series of emergency government moves aimed at easing the worst credit crisis since the 1930s and limiting the severity of a year-long recession. The ...

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