By on July 18, 2013

ss_homepage

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…)

Recent Comments

  • gasser: I don’t think that this used car price explosion is going to end in the next year or two. U.S. is losing...
  • FreedMike: Do they even make brochures anymore?
  • Lie2me: All that Art Deco is wild, huh? $25K new in 1937
  • Tim Healey: Thanks for the laugh
  • Tim Healey: I am no engineer, but yes, there is almost certainly some computer action at play for ABS. I think I...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber