Tuesday, August 4, 2009

GMAC Posts Wider Quarterly Loss as Loan Defaults Rise (Update1)

Aug. 4 (Bloomberg) -- GMAC Inc., the lender that received $13.5 billion in government bailout funds, reported a $3.9 billion second-quarter loss tied to rising loan defaults and said part of its insurance operations may be sold.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aVgmYf7hkem8

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