In another example of how companies are tumbling under the economic crisis, GMAC Financial Services Inc., has urged the Treasury Department for yet another taxpayer bailout. A matter about which both the company and the Department are currently in talks will, if it gets through, count as GMAC's third tax payer aid.

"GMAC is the only one of the banks that went through the stress test to need additional government capital", shared Treasury Department spokesman Andrew Williams. "All other institutions were able to raise any necessary capital from investors and several paid back the taxpayer".

If the plans materialize as expected, which currently seems to be the case, the Detroit based firm will receive a financial aid of anywhere between $2.8 Billion to $5.6 Billion by the American Government. The help is expected to come in the form of preferred stocks, and if existing shares are, as most estimate, concerted into common equity, the Government's current stake of 35.4% in the company would be substantially increased.

Counted among one of the oldest US finance firms, GMAC started functions in 1919. With $181 Billion in assets, it has been an important financier for various GM and Chrysler dealerships and nearly 15 million borrowers in America.