Public Radio For Eastern North Carolina 89.3 WTEB New Bern 88.5 WZNB New Bern 91.5 WBJD Atlantic Beach 90.3 WKNS Kinston 88.5 WHYC Swan Quarter 89.9 W210CF Greenville
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Treasury To Sell Nearly Half Its Shares In Ally Financial

DAVID GREENE, HOST:

NPR's business news starts with a selloff.

(SOUNDBITE OF MUSIC)

GREENE: Yesterday, the Treasury Department announced it would sell nearly half of its shares in Allied Financial, which used to be known as GMAC. Those shares were purchased when the government bailed Allied out under the troubled Asset Relief Program during the financial crisis. The Treasury Department said that with the sale of these shares, taxpayers have now recovered more money than they invested in the bank. This comes as Allied's shares start trading publicly today on the New York Stock Exchange. Transcript provided by NPR, Copyright NPR.