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US Treasury Sells $2 Billion GM Stock in June

US Treasury Sells $2 Billion GM Stock in June

US Treasury announced it had sold in June almost $2 billion GM stock, as it has reduced the forecast of losses on the $85 billion bailout to around $17.9 billion. As GM’s stock price increased the US Treasury losses forecast dropped almost $2.5 billion since the beginning of the year. […]

GM Stock Surpasses 2010 IPO Price

GM Stock Surpasses 2010 IPO Price

Today, May 17th, GM’s shares surpassed the offering price from the 2010 IPO, which means that the US Treasury will be able to pare its losses. Today GM’s shares rose to $33.21 compared with $33.00 during the November 2010 IPO, the first time the stock has risen above $33 since […]

Ally and ResCap Reach Deal to Complete Restructuring

Ally and ResCap Reach Deal to Complete Restructuring

Ally Financial reached a deal with Residential Capital’s major creditors which would allow the company to complete its bankruptcy restructuring. This move is expected to allow the US Treasury, which still owns 74% of Ally, to begin the exit. Ally said that the plan reached with ResCap’s major creditors will […]

Ally Financial to repay U.S. Treasury in full by 2014

Ally Financial to repay U.S. Treasury in full by 2014

Ally Financial will repay the U.S. Treasury for its bailout by 2014 on the strength of its auto-finance business, its CEO said. The second-largest remaining investment by the U.S. Treasury’s bailout fund, Ally Financial can make a significant payment this year toward the $14.6 billion still outstanding from the Treasury’s […]