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- GMAC loss expands to $2.52B (CNN Money)
The company says quarterly revenue fell 24% as the credit crisis caused losses in mortgage lending.
- Corporate bond rates keep rising, portend defaults - Associated Press
NEW YORK (AP) -- The recent decline in bank-to-bank lending rates is having no effect on corporate bonds, which continue to plunge in value - a sign that the market believes more loan defaults and a wave of bankruptcies are ahead for U.S. companies ...
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