In 2006 and 2007, Cerberus could not get enough of Chrysler. The New York-based buyout firm first bough GMAC, the finance arm of the automaker, now called Ally Bank, for roughly $7.4 billion. Cerberus then bought an 80% stake in automaker Chrysler from Daimler ( DDAIF) in 2007 for an additional $7.4 billion, after German owners could not turn the struggling automaker around. In 2009, when Chrysler and General Motors went bankrupt and the "Big Three" U.S. automakers dropped to one, Cerberus shed its Chrysler holding to the U.S. government after the automaker was rescued from a messy bankruptcy. It also lost all but 15% of its stake in GMAC after a credit market freeze required multiple billion dollar plus government injections. Cerberus kept its ownership of Chrysler Financial, which it later sold in 2010 to Toronto-Dominion Bank ( TD) for $6.3 billion, recoupling a significant piece of its original auto investment.