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US Treasury raises $2.38b in Ally stock sale

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WASHINGTON (AP) — The Treasury Department has raised $2.38 billion after selling a large chunk of its stock in Ally Financial Inc. as part of the government's ongoing effort to recoup the billions of dollars spent bailing out companies during the 2008 financial crisis. Treasury said Wednesday that it got $25 each for the 95 million shares it sold in an initial public offering. The pricing of...

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