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GMAC to Get More Government Help

News reports said a firm that has traditionally offered financing to auto dealers and customers is about to get billions of dollars in additional aid from Washington.

GMAC was once run by the huge U.S. auto company General Motors to help customers get the financing needed to buy cars.

It is now set to receive more than $7 billion to help it resume such lending for customers of Chrysler as well as GM.

GMAC has already gotten about $5 billion in aid after plunging auto sales hurt its profits, and its investments in sub-prime mortgages went sour.