GMAC LLC, the auto and mortgage lender owned by Cerberus Capital and General Motors Corp., may face "substantial difficulty" if credit markets do not improve, Cerberus founder Stephen Feinberg said. GMAC posted a $724 million fourth-quarter loss and was downgraded by Moody's Investors Service as borrowers increasingly fell behind on payments.
Are you kidding me??? GMAC has been having severe troubles for at least 9 months...They've been shutting offices down everywhere. This is no surprise...
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