Ally's ResCap Unit Files Chapter 11 (Still Owes $7.2Bil In TARP!)
Posted by admin / Under Ally Pally Paradiso
<p>Ally Financial Inc.'s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the remainder of its government bailout.</p>
Published on Wednesday 23rd of May 2012 12:04:00 AM
Treasury Would Support Bankruptcy Of (Gubment-Owned GMAC/)Ally's ResCap Unit-Official
Posted by admin / Under Ally Pally Paradiso
The U.S. Treasury Department has agreed to support a bankruptcy filing for the struggling home-loan unit of government-owned lender Ally Financial Inc., if the company chooses to take that route, an official said Monday. A bankruptcy filing for Ally's subsidiary, Residential Capital, has been widely expected in the coming weeks, when the unit faces more than $300 million of bond-related payments. It recently missed a $20 million bond-interest payment, which has a grace period until May 17. ResCap, once one of the largest subprime-mortgage lenders in the country, has been a drag on Ally, which halted plans for an initial...
Published on Wednesday 23rd of May 2012 12:04:00 AM
Was Treasury’s GM Bankruptcy Ally Rewarded by Energy Department?
Posted by admin / Under Ally Pally Paradiso
I may have just solved a General Motors bankruptcy mystery that has existed for about three years. That is, why did a group that was supposed to be representing bondholders immediately cave to Auto Task Force pressures and endorse a deal that saw GM bondholders get put to the bottom of the creditor list? The apparent answer exposes the ugly way in which cronies were rewarded with taxpayer money for their support in the Obama orchestrated bankruptcy process while less favored classes got thrown to the back of the bus. In fact, the group that helped smooth the bankruptcy...
Published on Wednesday 23rd of May 2012 12:04:00 AM
Citibank, 3 others fail Fed stress test; 15 pass (GMAC/ALLY Failed, Too)
Posted by admin / Under Ally Pally Paradiso
WASHINGTON (AP) — The Federal Reserve says four major banks failed to show they have enough capital to survive another serious downturn. The list includes Citigroup, the nation's third-largest bank. The Fed says 15 of 19 major banks passed the stress test. The Fed noted that all of the banks have built up their capital reserves since the 2008 financial crisis. SunTrust and Ally Financial also failed the test.
Published on Wednesday 23rd of May 2012 12:04:00 AM
Obama Ally Won'tRelease Alinsky Tape
Posted by admin / Under Ally Pally Paradiso
Sources inform Breitbart.com today that Pam Dickler, director of the 1998 production of The Love Song of Saul Alinsky in Chicago that included a panel discussion featuring then-State Sen. Barack Obama, has a video tape of the play. And she won’t release it. “There is only one archive tape of the play and I have it,” Dickler informed our source. “It is not in Chicago.” Dickler told our source that she doesn’t believe she’s ever watched the tape, and she doesn’t know if it “can be viewed.” But she added: “No one is going to see the tape.”
Published on Wednesday 23rd of May 2012 12:04:00 AM
Rick Perry appears at the Republican Jewish Coalition 2012 Presidential Candidates Forum
Posted by admin / Under Ally Pally Paradiso
LOS ANGELES, December 23, 2011--At the Republican Jewish Coalition 2012 Presidential Candidates Forum, Texas Governor Rick Perry offered a heartfelt speech about his love for Israel. The Republican Jewish Coalition is a sophisticated audience, and they want to hear about a wide range of issues beyond Israel. Yet Israel was virtually the entire focus of Governor Perry's remarks. In his case, it was not pandering. As a devout Evangelical Christian, Governor Perry is a true believer. He loves Israel, and will crack down hard on those who try to hurt the Jewish state. His entire remarks are below. [snip] Whether...
Published on Wednesday 23rd of May 2012 12:04:00 AM
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