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An Ally Financial sign is seen on a building in Charlotte, North Carolina May 1, 2012. More than three years after it received multiple bailouts totalling some $17 billion, Ally Financial remains an intractable problem for the U.S. government. (Chris Keane/Reuters)
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Ally isn’t out of the woods yet
— Financial Times
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Big banks such as Citigroup have repaid crisis-era aid to the U.S. government and the Treasury’s stake in AIG has fallen to a sixth, leaving Ally Financial, once called GMAC, in the dust. Ally is still three-quarters owned by Uncle Sam and has repaid just over a third of its $17-billion (U.S.) of support. Now the former finance arm of General Motors is on a course meant to accelerate repayment and prepare for a sale or listing.
