KDP says sell ResCap bonds, sees bankruptcy filing

Newswire

NEW YORK, Nov 23 (Reuters) - Investors should sell short-dated bonds of Residential Capital, as a near-term bankruptcy of the mortgage company is highly likely, high-yield research firm KDP Investment Advisors said in a new report. ResCap's parent, GMAC, has been kept afloat with government support because its financing operations are considered integral to the auto industry, but no such case can be made for ResCap, KDP said in a report on Friday. With "bail-out fatigue" setting in, "we ...

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