Treasury to Sell Ally Financial’s Trust-Preferred
March 01, 2011 at 10:44 AM EST
The U.S. Treasury Department announced today that it plans to sell trust-preferred securities, known as TruPs, received from Ally Financial Inc., after the firm almost collapsed during the financial crisis. The Treasury, who wouldn’t say how much would be sold or when the sale would take place, received $2.7 billion of the securities in the [...]