US CREDIT-After capital boost, GMAC still faces GM risk

Newswire

By Karen Brettell NEW YORK, Dec 29 (Reuters) - Although GMAC LLC's debt has been boosted since the Federal Reserve approved it as a bank holding company, the auto lender still faces steep hurdles because its fortunes are tied to General Motors Corp . The U.S. Federal Reserve's approval on Wednesday of GMAC as a bank holding company paves the way for the company to access the Treasury-run financial bailout package, easing capital concerns at the company. For details, click on ...

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