GMAC's chief executive Michael A. Carpenter sought to reassure investors — as his predecessor Alvaro de Molina did before him — that the bleeding at its Residential Capital (ResCap) has stopped.

ResCap's net loss swelled to $4 billion in the fourth quarter, pushing its parent company back into the red. The mortgage unit had lost $9.2 billion over the previous eight quarters and was the main reason GMAC received $3.8 billion from the Treasury Department in December, on top of roughly $13.5 billion from two previous federal bailouts. (The government has a 56% stake in GMAC.)

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