The Race to Save ResCap

ResCap and its parent GMAC buy time with landmark restructuring effort


By Aleksandrs Rozens

June 16, 2008

When it comes to out-of-court workouts, GMAC Financial's and Residential Capital's $60 billion recapitalization earlier this month may be remembered in the same breath as other notable corporate transfusions such as Chrysler and Western Union.

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