INSIGHT-Time running out for Ally Financial's restructuring

Posted on May 07, 2012 at 00:00 AM EDT

NEW YORK/CHARLOTTE, N.C., May 7 (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy.

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