More Cash Down The Government Motors Rat Hole

Barack Hussein Obama is quietly planning to pour another $3.5 billion into GM.

WASHINGTON — A person with knowledge of the matter says the government is moving ahead on a fresh multibillion dollar cash infusion to stabilize auto financing company GMAC Financial Services.

GMAC, based in Detroit, is instrumental to the operations of automakers General Motors Co. and Chrysler Group LLC. It has already received $12.5 billion in taxpayer money and is 35 percent owned by the federal government.