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Cerberus says GMAC may face difficulty: report
"We have detailed contingency plans in a continuing worsening environment," Feinberg wrote, according to Bloomberg. "However, if the credit markets continue to decline and we find ourselves in a prolonged environment of capital market shutdown, GMAC could run into substantial difficulty."
A Cerberus spokesman was not immediately available to comment.
(Reporting by Jonathan Keehner and Megan Davies)