Chrysler Financial

Ally Financial needs 'concrete plan' to unwind from U.S., watchdog says

12:01 am U.S. ET | Jan. 30, 2013
The Treasury Department needs a “concrete plan” to unwind the 2009 bailout of Ally Financial, the former auto-finance arm of GM, an administration watchdog says in a new report. Taxpayers still own 74 percent of Ally, which owes $14.6 billion for the infusion of public dollars that enabled the former GMAC Inc. to avoid bankruptcy.... Read More »

 

U.S. Treasury failed to curb excess 2012 pay at GM, Ally, watchdog says

2:34 pm U.S. ET | Jan. 28, 2013
The U.S. Treasury Department "failed to rein in excessive pay" at bailed-out GM, Ally Financial and AIG, the rescue program's inspector general said. Sixteen of the 69 top employees at the three companies had 2012 pay packages worth at least $5 million and all but one had total compensation of $1 million or more, the Special Inspector General for the Troubled Asset Relief Program said in a report today.... Read More »