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Buffett's firm acquires ResCap's loan portfolio

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OMAHA, Neb. (AP) — Residential Capital has completed the sale of a portfolio of mortgage loans to Berkshire Hathaway Inc. Warren Buffett's company won the bankruptcy auction for ResCap's loan portfolio with a $1.5 billion bid last year. ResCap said Tuesday the loan sale had been completed. ResCap's parent company is Ally Financial, which is 74 percent owned by the U.S. government as a result of...

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