GMAC stocks up.

[moneysense]

After the lifeline given to GMAC by the government, their stocks have risen. Plus, now GMAC is bank holding company and now qualifies for the governments $700B rescue fund. Without the help from the government, it is said that GMAC would have either had to file for bankruptcy or shut down completely.

Sales, on the other hand, have dipped since it is much harder for consumers to obtain the need loans for a new vehicle purchase without and excellent credit rating. And that doesnt necessairly mean they would get the loan anyway.