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Rescap, US-owned Ally’s mortgage unit files bankruptcy (via AFP) – Full Story



US-owned Ally’s mortgage unit files bankruptcy (via AFP)

Troubled US Treasury-owned lender Ally Financial said Monday its was placing its mortgage unit into bankruptcy protection as the government seeks to reduce loss risks from a major $17 billion crisis-era bailout. Ally said the unit, Resolution Capital, burdened with toxic loans from the subprime crisis…


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