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Residential Capital (ResCap) - Ally Financial's troubled mortgage unit - files for...

  • Monday, May 14, 2012, 8:03 AM ET
    Residential Capital (ResCap) - Ally Financial's troubled mortgage unit - files for bankruptcy. State-owned Ally (formerly GMAC) says the filing will allow it to focus 100% of its efforts on auto loans and direct banking.
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This news story has 4 comments:

  •  
    so NCT will get the Excess Mortgage Rights?
    14 May 2012, 08:07 AM Reply Like
  •  
    Apparently? I think the deal still has to be approved by a bankruptcy judge, but I'm not 100% sure
    14 May 2012, 08:14 AM Reply Like
  •  
    Any loss to the taxpayers from the bailout?
    14 May 2012, 11:11 AM Reply Like
  •  
    I read Treasury was a shareholder in Ally, but again I'm not sure if the Treasury will get preferential treatment in bankruptcy court.
    14 May 2012, 12:36 PM Reply Like
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