GMAC's New Chief Carpenter Focuses on Autos, ResCap: Video

Nov. 17 (Bloomberg) -- GMAC Inc., the lender seeking a third taxpayer bailout, must focus on auto...  More »

Nov. 17 (Bloomberg) -- GMAC Inc., the lender seeking a third taxpayer bailout, must focus on auto financing and find a “solution” to its money-losing Residential Capital LLC mortgage business, newly appointed Chief Executive Officer Michael Carpenter said. Carpenter, a former Citigroup Inc. executive, replaced Alvaro de Molina, who resigned yesterday. Bloomberg's Greg Miles reports. (Source: Bloomberg)  « Less