In 2007, a man was convicted of murder despite strong evidence that he wasn't the killer after three apparently very compelling witnesses matched him to the scent of the victim's clothes. Those witnesses? A trio of bloodhounds named Quincey, James Bond and Clue. I wish I was joking.
GMAC Mortgage told its agents and brokers to stop foreclosures on homes in 23 states, including Florida, Illinois, Indiana and Ohio.
It doesn't look as if General Motors will seek to establish its own in-house financing unit after all. The Detroit-based automaker is instead negotiating with major banks to broaden the availability of auto loans to consumers.
Despite getting an additional $3.8 billion last week in federal aid and a year-end rebound in car sales, GMAC still expects to post a $5 billion loss for fourth quarter 2009. Most of it stems from write-downs in residential real estate.
