Ally Financial Explores Options For Treasury Exit, Seeks Immunity From ResCap Related Lawsuit

Ally Financial, what used to be known as the General Motors Acceptance Corporation, GMAC, before GM’s bankruptcy and bailout, itself received over $17 billion from the U.S. Treasury during the bailouts of 2009. On Tuesday the company said that it was looking into options on how to repay that money and comply with the Federal Reserves’ latest stress tests for financial institutions. Ally is 74% owned by Treasury and it is trying to buy back some taxpayer-owned stock and reach an agreement with the Fed on its capital structure (known as the “Comprehensive Capital Analysis and Review”) so it can offer stock in an IPO. Ally had originally planned on a 2011 IPO but having to resolve claims against its bankrupt Residential Capital mortgage unit delayed that. ResCap hopes to be out of bankruptcy by 2014.

Read more
  • FreedMike Comparison: RAV4 versus CR-V. Who wins? Mazda CX-5 Turbo.(Sorry, the Toyota and Honda are both deadly dull to drive.)
  • Ajla 1. RAV4 Hybrid2. CRV Hybrid 3. RAV4 2.54. RAV4 Prime5. CRV 1.5T
  • MaintenanceCosts If only it had a hatch. The Model S is so much more practical, has similar performance in non-Plaid form, and is $20k more - and the $20k premium seems almost worth it just for the hatch.
  • Lorenzo I'm not surprised. They needed to drop the "four-door coupe", or as I call it, the Dove soap bar shape, and put a formal flat roof over the rear seats, to call it a sedan. The Legacy hasn't had decent back seat headroom since the 1990s, except for the wagons. Nobody wants to drive with granny in the front passenger seat!
  • Analoggrotto GM is probably reinventing it as their next electric.