Wall Street mixed on GM rally

Wall Street moved mixed Friday, as General Motors rallied after GMAC was allowed to convert into a bank. The Federal Reserve allowed GMAC Financial Services, the finance arm of struggling GM, to become a bank holding company on Dec. 24 and thus qualify for the U.S. government’s 700-billion-U.S.-dollar rescue plan.

Posted: 2008-12-27 07:46:00

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