Wednesday, March 28, 2012 - 8:41 AM

Feds Ready To Dump Ally Financial

Treasury Department fears Ally will never be able to pay back its $17.2 billion.

http://www.consumeraffairs.com/news04/2012/03/feds-ready-to-dump-ally-financial.html

Shorebreak1,280 posts since
Apr 6, 2010
Rep Points: 4,779

1. Wednesday, March 28, 2012 - 9:34 AM

I'd sure like to know what is really going on here with Ally and the Feds. If you read Ally's ratings they seem to be in excellent condition and yet the Fed is hounding them. Why isn't the Fed "dumping" all the others they have given billions of dollars to who have yet to repay them? What is really going on with the Fed and Ally? Anyone have any answers?

Apache43 posts since
Dec 5, 2011
Rep Points: 562

2. Wednesday, March 28, 2012 - 12:13 PM

Re: Apache @ 1. Wednesday, March 28, 2012 - 9:34 AM

The last part of the article pretty well sums it up...

"The biggest thorn in Ally's side, however, is its mortgage unit, now called Residential Capital. It is expected to slide into bankruptcy in the next few months, according to Bloomberg. Meanwhile, with Ally's problems mounting and its IPO looking unlikely, key executives are beginning to head for the exits, making it that much harder for the company to turn itself around, observers said."

Shorebreak1,280 posts since
Apr 6, 2010
Rep Points: 4,779