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The US Treasury practically owned Ally Bank (formerly GMAC) after the 2008 financial crisis with a 63% stake [1]. The government then sold off its stake around
by redserk 2y ago
The US Treasury practically owned Ally Bank (formerly GMAC) after the 2008 financial crisis with a 63% stake [1].
The government then sold off its stake around 2014 and Ally seems to be doing well now.
I’d make the argument that significant ownership by the government means it’s effectively nationalized.
1. https://www.forbes.com/sites/jimhenry/2014/12/31/u-s-treasury-sells-ally-financial-stake-no-more-government-motors/ https://www.forbes.com/sites/jimhenry/2014/12/31/u-s-treasur...