Washington Closes Out Last Big Position in Wall Street Bailout
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|The United States closed out its last big investment taken on during a 2008 bailout of U.S. banks and automakers, selling its remaining shares in the former financing arm of General Motors, the U.S. Treasury said on Friday. Treasury made deals to sell about 55 million shares in Ally Financial for $1.3 billion, which a Treasury official said was organized to take advantage of strong stock prices seen in the last few days.
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