Last Updated: Wednesday, 12 September 2007
Sub-prime woes hit US lender GMAC http://news.bbc.co.uk/2/hi/business/6990822.stm
[The sub-prime mortgage downturn has now hit a number of firms]
Finance firm GMAC has had to take out a $21.4bn (£10.1bn) loan as it becomes the latest lender to reveal the impact of the US sub-prime mortgage crisis.
GMAC, which has borrowed the cash from Citigroup, said boosting its financial flexibility was "a prudent measure" in the current market environment. http://news.bbc.co.uk/2/hi/business/6990822.stm