US to sell 410,000 of Ally Financial shares
The U.S. Treasury Department on Thursday announced plans to sell
410,000 shares in auto lender Ally Financial as part of its effort to
unwind its financial bailout fund.
The Treasury said it expected taxpayers to recover about $3 billion
from the private offering of Ally common stock at $7,375 per share. The
sale would reduce the government's stake to 37 percent, it said.
The government pumped $17.2 billion into Ally during the
2007-2009 financial crisis, and the Treasury said taxpayers will have
recovered about $15.3 billion once the stock sale was completed.
GMAC in drag, just another scam as there are no actual Ally Banks..
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