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SHEDS - USA - GMAC to shed $55 billion in loans
Santa Monica,CAL,USA -Autoblog, by Eric Bryant -Jul 27, 2005: -- GMAC, the lending unit of GM that’s keeping the company afloat right now, will sell off $55B in loans to Bank of America over the next five years. Short-term, this will mean little to car buyers - even those that use GMAC, as they will still service the loans - but will hopefully allow GM to significantly reduce its debt load and maybe even put a little cash in its pockets...
posted by Unknown @ 11:47 AM
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