US puts up $6 bln to support auto lender

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US puts up $6 bln to support auto lender
Oluşturulma Tarihi: Aralık 31, 2008 00:00

WASHINGTON - 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.
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