Did GM Do The Motown Shuffle With TARP Loans To Pay The Gov't Back?

A day after the Obama administration hailed progress in the government-sponsored turnarounds of General Motors and Chrysler, congressional Republicans leveled criticism at the administration's aid to the industry.

"It is unclear how GM and the administration could have accurately announced yesterday that GM repaid its TARP loans in any meaningful way," Grassley said in his letter to Geithner, referring to the $700-billion Troubled Asset Relief Program.

"It looks like GM merely used one source of TARP funds to repay another," he said.








2011 Ford Fiesta Photo Gallery

2011 MB E-Class Conv. Photo Gallery

2011 BMW X5 Photo Gallery

2011 Ford Mustang Photo Gallery

AutoSpies.com Photo Galleries

If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com

Share on Facebook

Read Article

upwards - 4/24/2010 4:32:52 PM

-2 Boost

REPOST.

DinamoR - 4/24/2010 8:26:11 PM

0 Boost

Of course. The entire U.S. government is owned by Wall Street and big corporations now. 100% of Republicans and about 95% of Democrats. And I don't see hope of changing it. This is the new 21st century tyranny: Corporations with too much power.

richard112360 - 4/24/2010 9:52:57 PM

0 Boost

You got that right DinamoR!!

uaw_lax - 4/24/2010 10:25:38 PM

-1 Boost

This is why the common man has to stand up and say enough is enough you are way to powerful and your actions trying to make a big pay off is destroying America.

thstone - 4/26/2010 4:13:10 PM

+2 Boost

All I can say is that I have a $50 lawnmower and I am looking for a $1,000 investor...

carbus - 4/30/2010 3:06:11 PM

+1 Boost

GM and their Mr.Ed TV advertisement on loan repayment is simply another attempt to dupe the consumer. GM should be accountable for their actions and such a distorted statement "we paid off our government loans in full" is deceitful, and enforces one thing - GM certainly haven't lost one thing their noted for - ARROGANCE!
Where is 60 Minutes or Michael Moore???