Wednesday, July 15, 2009

mtlqq

mtlqq
Investors in the old General Motors stock will need to pay attention to yet another new ticker symbol. If you want to unload GM stock, you need to know that the stock is now Motors Liquidation Co. common stock. The security will resume trading today under the symbol MTLQQ. Last Friday, the Financial Regulatory Authority, known as FINRA, halted over-the-counter trading of GM stock. When trading resumes, the former common stock symbol, GMGMQ, will be deleted, FINRA said, and should be used only for the limited purpose of reporting as-of reports, corrections or cancellations of trades effected on or prior to July 10.

Chrysler Financial repays U.S. cash for loans

Chrysler Financial has repaid all of the $1.5 billion it borrowed from the U.S. Treasury last January under the Troubled Asset Relief Program. The money was used to finance more than 85,000 car loans for customers of Chrysler LLC in the months prior to its Chapter 11 bankruptcy.

The original TARP loan contained provisions that increased Chrysler Financial's costs over time, giving the company incentive to pay off the loan as quickly as possible.

SCAMS: Madoff's high living comes to an end in prison

Bernard Madoff's life of luxury is a thing of the past.

The disgraced financier blamed for what is believed to be the largest Ponzi scheme in history arrived Tuesday at a federal prison in North Carolina to begin a 150-year sentence in a cell with two bunk beds, a toilet and a sink.

BANKING: Bailed-out Goldman Sachs has record earnings

Goldman Sachs Group Inc. posted record earnings as revenue from trading and stock underwriting reached all-time highs less than a year after the firm took $10 billion in U.S. rescue funds.

Second-quarter net income was $3.44 billion, or $4.93 a share, the New York-based bank said Tuesday in a statement.


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