ResCap To Shed 700 More Jobs Amid Subprime Turndown

Credit Worries Swirl Around GMAC – TheStreet – Cerberus Capital Management may be celebrating its historic acquisition of Chrysler after turmoil in the credit markets delayed the deal, but no champagne is flowing for the private-equity firm’s.

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Steep stamp duty is making the housing crisis WORSE because. – Steep stamp duty is making the housing crisis WORSE because older homeowners are put off downsizing, new report claims And a cabinet minister has urged the chancellor to reform the system to free.

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Three Missouri men charged with defrauding TARP Bank. – Three Men Charged with Defrauding Illinois Company of More Than $1.5 Million. John H. Durham, United States Attorney for the District of Connecticut, and Brian C. Turner, which Gold deposited into his personal bank account. powered by the Tampa Bay Times, is your home for breaking news you can trust.

Roofing Sheds & Job Works by Sakthi Industries, Chennai Mortgage lender ResCap to eliminate 1,000 jobs – Inman – Slower originations, deterioration of subprime sector cited. What you need to know to start your day with all the latest industry developments

GMAC’s switch to bank in doubt – The Boston Globe –  · CHARLOTTE, N.C. – GMAC LLC, the primary lender to General Motors Corp. dealers, hasn’t obtained enough capital to become a bank holding company and may abandon the effort, casting new doubt on the firm’s ability to survive. A $38 billion debt exchange by GMAC and its Residential Capital LLC mortgage.

ResCap To Shed 700 More Jobs Amid Subprime Turndown – GMAC LLC’s Residential Capital home-lending unit will let go of roughly 700 workers — or five percent of its U.S.-based employees — as a continued subprime credit crunch has nearly every lender.