HAHA.... ALLY (GMAC) financial, you know the one that got a BAIL OUT!!!!

S

S2007S

I wish this was a joke but its not, Ally Financial that is still owned by 50% of the tax payers and received billions in bailout money is now going to go public....unfucking real....amazing how these companies can just get bailed out and come back into the public spotlight as if nothing was ever wrong, simply amazing.

You know what, its not ALLY financial its still fucking GMAC the company that made bad auto and home lender loans that got bailed out by tax payer money....but dont worry about the bad loans and the billions it took to prop up this company, failure is rewarded in this economy!!!


Ally Financial has 'bake off' for IPO, CNBC says



By Alistair Barr

SAN FRANCISCO (MarketWatch) -- Ally Financial is having a "bake-off" in which investment banks compete to underwrite an initial public offering by the auto lender, CNBC said Wednesday. The IPO of Ally could be between $5 billion and $10 billion, CNBC also reported. Formerly known as GMAC, Ally had to be bailed out by the U.S. government, which committed more than $17 billion to save the company during the financial crisis. The company is currently more than 50% owned by taxpayers. An IPO this year would help the Treasury Department cut that ownership stake.
 
I work for a Chevy dealer and over the past several months, ALLY has been offering "down payment assistance" programs on certain cars. Right now you can get a $2005 ($3005 last month) rebate for financing a Silverado at standard rates. Not sure if Chevy or ALLY is paying for that and how all that works but I don't see how that can work. Everybody paying cash just uses that program and then pays it off in a few months. If they were going to finance it, they just initially finance it with ALLY and then refinance it with another lender in a few months because their rates aren't competitive.

It seems they have also loosened their lending standards as well. People who you never thought could get financed are getting approved with them. It's sure nice for business though. Since we rarely make money on the front end, it's nice to pick up a little on the back.

You gotta love their commercials though.
 
Quote from Sandybestdog:

I work for a Chevy dealer and over the past several months, ALLY has been offering "down payment assistance" programs on certain cars. Right now you can get a $2005 ($3005 last month) rebate for financing a Silverado at standard rates. Not sure if Chevy or ALLY is paying for that and how all that works but I don't see how that can work. Everybody paying cash just uses that program and then pays it off in a few months. If they were going to finance it, they just initially finance it with ALLY and then refinance it with another lender in a few months because their rates aren't competitive.

It seems they have also loosened their lending standards as well. People who you never thought could get financed are getting approved with them. It's sure nice for business though. Since we rarely make money on the front end, it's nice to pick up a little on the back.

You gotta love their commercials though.
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Is that through an indexed arbitraged escro account will an adustable rate compitutated for a variable shift billing cycle statement period at the discretion of the lender with all liabilty placed on the loan signer? Also, is the offer available to option 1 or option 2 employees. I would make another buck on the resale with such deep discounts or part the vehicle to make twice that amount of money.

Akuma
 
Quote from AKUMATOTENSHI:
Is that through an indexed arbitraged escro account will an adustable rate compitutated for a variable shift billing cycle statement period at the discretion of the lender with all liabilty placed on the loan signer? Also, is the offer available to option 1 or option 2 employees. I would make another buck on the resale with such deep discounts or part the vehicle to make twice that amount of money.

Akuma
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If you are asking if there are a bunch of strings attached, none that I am aware of. It is a fixed rate, generally for 5 years. Also, there is no prepayment penalty (in Maryland at least).

I'm not sure what you mean is it available to employees. It is available to the entire public (based on credit), so yes employees are included.
 
Quote from S2007S:

I wish this was a joke but its not, Ally Financial that is still owned by 50% of the tax payers and received billions in bailout money is now going to go public....unfucking real....amazing how these companies can just get bailed out and come back into the public spotlight as if nothing was ever wrong, simply amazing.

You know what, its not ALLY financial its still fucking GMAC the company that made bad auto and home lender loans that got bailed out by tax payer money....but dont worry about the bad loans and the billions it took to prop up this company, failure is rewarded in this economy!!!


Ally Financial has 'bake off' for IPO, CNBC says



By Alistair Barr

SAN FRANCISCO (MarketWatch) -- Ally Financial is having a "bake-off" in which investment banks compete to underwrite an initial public offering by the auto lender, CNBC said Wednesday. The IPO of Ally could be between $5 billion and $10 billion, CNBC also reported. Formerly known as GMAC, Ally had to be bailed out by the U.S. government, which committed more than $17 billion to save the company during the financial crisis. The company is currently more than 50% owned by taxpayers. An IPO this year would help the Treasury Department cut that ownership stake.
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This is just so wrong on so many levels. Let's get past using taxpayer funds to save a business that made terrible mistakes and deserved to go out of business. Let's get past having government, ie politicians, in the position to run major businesses like auto manufacturing and banking. I mean that worked out so well with Fannie and Freddie right?

How about the sitaution where you have a bunch of chicago pols deciding who will get in on a lucrative IPO? Who will underwrite and who will get shares. No potential for corruption there, right?
 
Quote from AAAintheBeltway:

Sandy, Can you guys sell those mini cars, etc that obama wants GM to make? I see ads for them, they look ok, but I never see one on the road.
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I don't know which cars you are talking about and why do all you people joke about Obama running Government Motors and such? It sounds so stupid.

I saw in another post of yours that you said "Obama wants to force us to drive electric cars." Number 1, nobody's forcing anybody to drive electric cars. There's a 10 month waiting list for Volt's right now. Obama didn't make that, the market did. Secondly, who cares? Electricity is so much more efficient than gas and it can be generated several different ways, most of which is domestic.
 
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