GMAC has been losing money for some time now, so everybody expected disastrous results for the fourth quarter of 2009. The figures are now official: GMAC Financial Services announced a net loss of $5.0 billion for the fourth quarter of 2009, compared to net income of $7.5 billion for the fourth quarter of 2008. For the 2009 full year, GMAC reported a net loss of $10.3 billion, compared to a net income of $1.9 billion in 2008. The fourth quarter and full year losses were affected by losses relate… (read more)