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Unique Treatment of GMAC Under TARP
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Unique Treatment of GMAC Under TARP

Book Details

Format Hardback or Cased Book
ISBN-10 1617283053
ISBN-13 9781617283055
Publisher Nova Science Publishers Inc
Imprint Nova Science Publishers Inc
Country of Manufacture US
Country of Publication GB
Publication Date Mar 17th, 2011
Print length 176 Pages
Weight 616 grams
Dimensions 25.70 x 18.20 x 1.60 cms
Product Classification: Credit & credit institutions
Ksh 31,150.00
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GMAC is a diversified financial services firm that derives its revenues from automotive finance, where it holds a dominant position, as well as mortgage operations, insurance operations, and commercial finance. The U.S. government has spent a total of $17.2 billion to support GMAC under the TARP. GMAC received funds on three separate occasions, spanning both the Bush and Obama Administrations. As part of the government bail-out effort, GMAC has received special treatment apart from the funds in order to meet the capital buffers established under the bank "stress tests" because it could not raise funds from private sources. This book examines the unique treatment given GMAC under the TARP.

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