U.S. Treasury confirms $6 bln disbursed for GMAC


WASHINGTON, Dec 31 (Reuters) - The U.S. Treasury Department confirmed on Wednesday that it disbursed $6 billion in funds to support automotive finance company GMAC LLC. In a transaction report, the Treasury said on Dec. 29 it purchased $5 billion in preferred stock directly in GMAC, also receiving equity warrants in the transaction. The Treasury also said it disbursed a $1 billion loan to automaker General Motors Corp. to help it purchase equity in support of GMAC's conversion to a bank ...

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