Feb 8 The U.S. Treasury, under pressure to wind
down its crisis-era bailouts fast, believes it will take time to
shed auto lender Ally Financial, because the company's mortgage
lending unit is in a messy bankruptcy, a person familiar with
the matter told Reuters.
Ally is one of Treasury's largest remaining holdings, but
the lender will be hard to exit as long as it is working through
the bankruptcy of its Residential Capital unit and is also
selling its international operations, the person said.
"There are particular challenges with Ally," the person
familiar with Treasury's thinking said. "There is no specific
timetable," for a sale or stock offering, he added. Treasury
understands the company's difficulties and supports the
company's chief executive, Michael Carpenter, the source added.