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General Motors (GM) wants to buy troubled Ally Financial's global businesses, according to a...

General Motors (GM) wants to buy troubled Ally Financial's global businesses, according to a report breaking from Bloomberg. The move could help the bailed-out company repay a portion of the $12B tab it has with U.S. taxpayers.
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Comments (8)
  • cuznjames
    , contributor
    Comments (4) | Send Message
     
    Considering the fact that Ally was formerly known as GM Bank, I assume that the car/truck giant should be intimately familiar with the business. Funny how many things go full circle.
    14 May 2012, 04:20 PM Reply Like
  • DividendLion
    , contributor
    Comments (58) | Send Message
     
    There you go, what just a couple years removed from the government having to bail them out they want to move right back into one of the things that got them into so much trouble before! It took me years to recover but I finally sold my last investment connection to GM (now Ally) late last week. Good riddance and never again.
    14 May 2012, 04:28 PM Reply Like
  • Tricky
    , contributor
    Comments (1685) | Send Message
     
    So, is this paying back bailout money with bailout money?
    14 May 2012, 04:31 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (9818) | Send Message
     
    This is actually great news for GM investors (which includes, of course, every taxpaying American).
    14 May 2012, 07:15 PM Reply Like
  • Storm Warning
    , contributor
    Comments (160) | Send Message
     
    Sure, let 'em buy it, so we the government / government motors slush fund can gain some synergies by bailing the whole mess out [again] at one time instead of doing each piece separately!
    14 May 2012, 07:16 PM Reply Like
  • wedidit
    , contributor
    Comments (7) | Send Message
     
    One area facing GM in the next 2-3 years is their pension fund. According to the latest filing the GM pension fund is under funded by $24.5 billion.
    15 May 2012, 03:09 PM Reply Like
  • Tricky
    , contributor
    Comments (1685) | Send Message
     
    No worries, we'll all be picking up that tab
    15 May 2012, 03:12 PM Reply Like
  • gggl
    , contributor
    Comments (6668) | Send Message
     
    Ally cost the taxpayers $17B but they are claiming we got back $5B in interest payments. Sorry that is now how it goes in my book, we want our interest and our principle. Man would I love a credit card that let you just pay back what you borrowed from them after racking up 5 years of 30% interest.
    15 May 2012, 03:50 PM Reply Like
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