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How About a Bank of America, GMAC Merger?
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NEW YORK (TheStreet) -- It would be an easy solution to a lot of problems.
Bank of America(BAC Quote) is searching for a new chief executive officer. Al de Molina, a former Bank of America executive and current GMAC CEO, is on the short list -- or off, depending on the latest speculation. Why not bring the two bailout corporations together in a marriage of convenience?
Both companies are in massive debt to the U.S. Treasury. Bank of America received $45 billion, and GMAC has gotten $13.4 billion to date. ...
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