Bank of America Corp. is paying $950 million to settle claims that its Countrywide unit pooled faulty mortgages into securities that helped hobble Financial Guaranty Insurance Co. and saddled buyers with losses.
Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, dropped in its trading debut after pricing its initial public offering at the low end of an expected range.
Ally Financial Inc. investors who bought $2.38 billion of stock in an initial public offering yesterday join hedge fund manager Dan Loeb and private equity executive Stephen Feinberg seeking to profit from auto lending.
The S&P 500 Index has crossed the flat line a total of 15 times so far this year. We believe its inability to rally past last year's +29.6 percent mark signals fatigue, especially in light of some recent bullish news:
The U.S. Treasury Department has had Ally Financial Inc. in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.
Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.