Foreclosures Smack GMAC

Stock quotes in this article: GM , TM , F  

GMAC CFO Robert Hull said ResCap may face more job layoffs in 2008, despite a mortgage refinancing "boom" that has begun since the Fed slashed interest rates last month.

Still, Rubin says that "short of some special items that could prop up GMAC's earnings, I don't see how the company will be profitable this year."
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