GMAC, which is owned by the federal government, is still working to sell its troubled home lending business, ResCap. Mortgage operations overall lost more than $US4 billion ($A4.53 billion) during the quarter, and GMAC $US3.3 billion ($A3.74 billion) charge related to its efforts to sell the

Andrew Cuomo, the New York state attorney-general, announced the lawsuit against the bank and former chief executive, Kenneth Lewis, and former chief financial officer, Joseph Price, "for duping shareholders and the federal government in order to complete a merger with Merrill Lynch". "This