GMAC posts US$5b Q4 loss
NEW YORK: GMAC Financial Services, a lender that is majority-owned by the US government after multiple bailouts, lost US$5 billion (US$1 = RM3.44) in the fourth quarter after writing down terrible mortgage assets. GMAC, one of the largest car loan makers in the US, said in December it did not expect [...]
Articles tagged with: mortgage assets
Written By: admin on February 8, 2010
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