Freddie Mac urges judge to reject ResCap, FGIC deal

Freddie Mac urged a bankruptcy court to reject Residential Capital's recent deal with Financial Guaranty Insurance Co. to slash the bond insurer's claim against ResCap by nearly $5 billion, arguing the deal was not negotiated in good faith and would unfairly shortchange the mortgage giant.

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3d rendering of a row of luxury townhouses along a street

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