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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: ggersh who wrote (71416)11/20/2007 12:44:43 AM
From: mishedlo  Respond to of 116555
 
Credit Woes at GM, Cerberus, and Residential Capital
globaleconomicanalysis.blogspot.com
16 billion in RESCAP bonds,an old GMAC mortgage unit,are now priced for bankruptcy. That may be skimming the surface as an unknown number of credit default swaps on RESCAP are in play. Cerberus, a 51% owner of GMAC is having addition problems selling Chrysler bonds. GM shares have been sinking on rising loan defaults, fuel standards and incentives.
Mish