Stress Tests and GM Bankruptcy Hang Over GMAC As it Reports $675 Million Loss
May 6th, 2009 | By Don Miller | Category: Financial NewsAuto and mortgage lender GMAC LLC (NYSE: GKM) reported a first-quarter loss of $675 million and now faces further pressure from bank “stress tests” and freefalling sales volumes that may push its former parent General Motors Corp. (NYSE: GM) into bankruptcy.