12/31/2008

Congress has new leverage to extract concessions now that the Treasury Department's announcement of a $6 billion investment in GMAC brings its bailout commitments to $354.4 billion, while Congress approved the use of only $350 billion. Lawmakers are expected to press for a variety of new measures, including better transparency and a binding commitment to address the foreclosure crisis, when the Treasury comes back to request the release of the second $350 billion portion of the $700 billion bailout package.

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