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Today the government released information detailing what it plans to do to buy into banks’ troubled assets.
Banks really needed to get rid of the troubled assets to go forward with lending but here’s what was keeping them held up:
Risk-taking institutional investors, like hedge funds and …

The Federal Reserve has granted GMAC, a major lender to GM dealers, the status of a bank holding company. This decision effectively gives GMAC access to the bailout funds for the financial sector.
This also came out today:
“While GMAC has not quantified its capital injection request …

The U.S. Federal Reserve said American Express could become a bank holding company. Like Morgan Stanley and Goldman Sachs before, now American Express may issue government guaranteed bonds through June 2012.
The companies can also apply to receive aid from the $700 billion bailout rescue package …