TARP Watchdog Spars With Treasury on Ally Financial Exit
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The U.S. Treasury and the watchdog for its bailout program are sparring over whether the department has an adequate exit plan for auto lender Ally Financial Inc.
“While Treasury has noted that it has several options for possible divestment, including a public or private sale of stock or other sale of Ally assets, Treasury has not decided which of these exit paths to take,” the special inspector general for the Troubled Asset Relief Program said in a report today. “It is essential that when the government finally exits Ally that it do so forever.”