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Ally Financial is reportedly considering a sale of all or part of its auto lending and banking...

Ally Financial is reportedly considering a sale of all or part of its auto lending and banking businesses; an IPO is still a possibility, but is looking increasingly remote. Logical buyers for the various pieces include JPMorgan (JPM), Toronto-Dominion (TD), Wells Fargo (WFC) and GM (GM).
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Comments (2)
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Ally and/or GMAC, a dog is a dog no matter what color it is. All an IPO would do is to transfer this dog to another owner. Shut it down. Close it up. Show the financial community how the regulators would handle a TBTF in the event of a future problem.
    17 Feb 2012, 05:50 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    I'm with Moose on this one. And it's getting really hard to follow the nomenclature. Ally, formerly GMAC and part of GM, is a bank. That's because automakers have great banking expertise and service potential (?). They go under with GM, perhaps in a worse way than GM did. GMAC is spun off as Ally. Now Ally is ailing and, no TARP in sight, is considering selling off part of the operation as an "IPO" (?). GM is looking at purchasing all or part of Ally (?). This high-finance stuff really gets confusin'.

     

    It'd be less confusin' if we knew the corruption background that allows this cycle to continue--perhaps a flowchart?

     

    I continue to think "BPO" (bankrupt public offering) is a better label for the spun-off Ally and any of its parts as well as the "new" GM.

     

    How many jobs have been lost and never created as the taxpayer "saves" jobs at GM, GMAC, ALLY and all their allies?
    17 Feb 2012, 08:06 AM Reply Like
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