Treasury Department Says GM Financial Unit May Need Another Bailout If Recession Worsens

According to the Federal Reserve, Ally Financial will not be able to survive a severe recession in the US.

Ally Financial, which is still majority-owned by the government after the 2009 bailouts, would be the only one among the nation’s 18 largest banks that would not survive the Federal Reserve’s scenario. The government led an annual ‘stress test’ which showed that the 18 major US banks had fewer bad loans compared with 2012, due to a stronger economy.

AutoSpies.com is ranked #1 on Google for auto show photos!

**The 2013 Geneva Motor Show Photo Galleries are sponsored by Fiat

2013 Geneva Motor Show Photo Gallery
Read Article

PUGPROUD - 3/8/2013 3:24:11 PM

+4 Boost

Fool us once shame on you...fool us twice shame on us. Taxpayers unite and end this vodoo economics. Survival of the fitest is a natural law in nature and in business. If you can cut it you reap the rewards...if not you die and the market is serviced by a more efficient entity.

Lexus - 3/8/2013 6:45:05 PM

+2 Boost

This is total B.S. if you ask me. Where is my bailout and millions of American who is struggling ourselves in the hard economic time? The last time I remember it's tax payers money that they're getting it from.

It would be so nice if our government would send around $1-2 millions dollars to all U.S. citizen that work and paid taxes. That would help us a lot in this economic hardship time. This would definitely boost our economy for sure because now we have money to buy houses, cars, shopping and etc.

Lexus - 3/8/2013 6:45:38 PM

+1 Boost

I was being sarcastic about the last part just in case you didn't get my sense of humor.

Terry989 - 3/9/2013 2:06:18 PM

0 Boost

Sigh - - - Just Agent 009 once again pushing his political agenda. By all accounts we have emerged from worst recession in history bequeathed to us by the Bush administration. It was published just two days ago that after 5.5 years US household wealth has regained the pre-recession peak.
Read more here: http://www.miamiherald.com/2013/03/07/3272256/us-household-wealth-regains-pre.html#storylink=cpy
http://www.miamiherald.com/2013/03/07/3272256/us-household-wealth-regains-pre.html

So why are we even talking about this "If the recession worsens" hypothetical BS meant to entice anger and generate web traffic. Please leave this to Yahoo news and keep the focus on cars. Don't continue to turn this site into a political cesspool.

theman440 - 3/11/2013 7:16:17 PM

+1 Boost

" It was published just two days ago that after 5.5 years US household wealth has regained the pre-recession peak" - I call B.S.