KUTERO
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Wall Street gains as GMAC gets financing.
NEW YORK (AP) -- Wall Street has had a big advance in the next to last session of 2008 after Washington's latest lifeline to the auto industry bolstered hopes that the government will do whatever is necessary to cut short the recession.
Investors found solace Tuesday that General Motors Corp.'s troubled financing arm will receive $5 billion of financing. The Treasury Department said late Monday it would provide the money to GMAC Financial Services LLC from the $700 billion bank rescue program.
NEW YORK (AP) -- Wall Street has had a big advance in the next to last session of 2008 after Washington's latest lifeline to the auto industry bolstered hopes that the government will do whatever is necessary to cut short the recession.
Investors found solace Tuesday that General Motors Corp.'s troubled financing arm will receive $5 billion of financing. The Treasury Department said late Monday it would provide the money to GMAC Financial Services LLC from the $700 billion bank rescue program.
