 Bloomberg | Former GMAC puts mortgage unit in bankruptcy USA TODAY Ally Financial was founded by GM in 1919 as the General Motors Acceptance Corp. (GMAC) to provide auto loans. Over the years, it expanded into insurance, direct banking, mortgages and commercial finance. GM sold 51% to Cerberus Capital Management ... Ally Financial CEO says US businesses not for sale Ally to Sell Non-US Units as ResCap Goes Bankrupt Ally's Residential Capital Files for Bankruptcy Protection |
 New York Times | Ally's Residential Capital Files for Bankruptcy Protection San Francisco Chronicle Ally said it also may sell its international auto-finance and insurance operations to help repay a $17.2 billion US bailout. Ally, a Detroit-based bank that specializes in car loans, is 74 percent-owned by the US Treasury after receiving the bailout. Ally Financial Announces Key Strategic Actions to Strengthen Company and ... Ally Financial: Rescap Mortgage Subsidiaries File Chapter 11 Ally Financial Mortgage Unit ResCap Files For Bankruptcy Protection |
 Telegraph.co.uk | Dr. Frankenstein's Europe Business Insider The “Troika” (the European Commission [EC], the International Monetary Fund [IMF], and the European Central Bank [ECB]) has set up budgetary expectations for Greece as a condition of getting loans to pay their current operating expenses. Debt crisis: as it happened - May 16, 2012 |
 BBC News | Spain may have to revise its 2011 budget deficit WBRC Moody's acted late Thursday, citing Spanish banks' heavy load of non-performing loans amid a recession-plagued economy, their trouble raising financing on capital markets and the government's sovereign debt problems, which might make it hard for the ... Greek politics, Spain banks test eurozone survival Guardian CFD's Pre Market Briefing Eurozone crisis live: Fitch downgrades Greece on euro exit fears |
 Bradenton Herald | Public records for May 19 Bradenton Herald Shakeena M. Jackson et al (auto negligence) CACH LLC, vs. Timothy J. Curry (contract and indebtedness) TD Auto Finance LLC vs. Clarence McDaniel et al (contract and indebtedness) Chet Bailey et al vs. Hugh Leach (contract and indebtedness) Federal ... |
 MLive.com | Big banks seek to build on auto loan gains Automotive News Some of the biggest banks in auto lending continue to aggressively pursue retail loan business after first-quarter surges. Wells Fargo Dealer Services, for example, reported record auto originations of $6.2 billion for the first quarter this year. Gov't housing programs lift gov't-owned Ally in 1Q Ally Says Auto Partnerships Strong Despite Chrysler Decision Ally Financial Reports Preliminary First Quarter 2012 Financial Results |
JPM-a-Thon Goes On (and On) Bank Technology News The bank's CIO has been "the biggest buyer of European mortgage-backed bonds and other complex debt securities, such as collateralised loan obligations in all markets for three years." That's according to "more than a dozen senior traders and credit ... |
US/Canada Price Gaps Narrow, But Persist, BMO Study Says Wall Street Journal BMO Capital Markets, in a report due for release Thursday, found Canadian retail prices remain stubbornly high -- about 14% higher than their US counterparts, based on a random sampling of a basket of goods a typical Canadian might compare, ... |
 Moneycontrol.com | Sensex opens lower on Greek concerns IBNLive.com Housing finance company HDFC, country's largest private sector lender ICICI Bank and state-owned capital goods major BHEL were down 3-3.5 per cent. Tata Motors, India's largest commercial vehicle maker retained its top position in the selling list, ... Sensex makes a comeback, ends 82 pts up on SBI show Sensex tanks 300 pts; Tata Motors loses 6%, banks nosedive |
Greenberg, Morrison, Kirkland, Mayer: Business of Law BusinessWeek Ally said it also may sell its international auto-finance and insurance operations to help repay a $17.2 billion US bailout. Ally, a Detroit-based bank that specializes in car loans, is 74 percent-owned by the US Treasury after receiving the bailout. |
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