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GMAC Loosens Credit Reins After $6 Billion Treasury Loan Contrarian Profits Writes: The U.S. Treasury has agreed to lend $6 billion to GMAC LLC (GOM), the financing arm of General Motors Corp. (GM), in the latest government effort to keep the biggest U.S. automaker out of bankruptcy. GMAC immediately announced looser credit lending standards that could make approximately 60 million Americans eligible for its car loans and leases. The company also said it would expand further into the retail

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Tags: Bank, Bankruptcy, Credit, Government, Loan

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