January 04, 2009
Chrysler and GM Receive Bailout Billions
- Reuters: Chrysler gets $4 billion U.S. government loan
- "GMAC Financial Services today [December 29, 2009] announced that it has sold $5.0 billion of GMAC's preferred membership interests and warrants to the U.S. Department of the Treasury as a participant in the Troubled Assets Relief Program established under the Emergency Economic Stabilization Act of 2008. The sale was completed today." See also GMAC Announces Consummation of Its Notes Exchange Offers
- Chrysler Statement Re Federal Assistance Received, January 2, 2009: "Chrysler Chairman and CEO Bob Nardelli said on behalf of the leadership team, that he was pleased to report that the Company's discussions with the Treasury Department have been completed, and that today, Chrysler received an initial $4 billion loan to help bridge the current financial crisis."
- Related postings on the financial system
