Treasury Department Worries Public Disclosure Of GM's Dirty Laundry Might Discourage Future Bailouts

The U.S. Treasury says confidential information it got in the bailout of General Motors Co. (GM) should stay secret, otherwise at-risk companies needing government help in the future might not be willing to share data.

The Center for Auto Safety, now researching GM’s ignition-switch defects, sued in 2011 for information the government obtained before investing $49.5 billion in the automaker. It got more than 50,000 documents and wants additional records on the U.S. role in a judge’s ban on lawsuits over older GM cars. The Treasury asked a judge to throw out the lawsuit.

Agent009 - 11/3/2014 4:02:36 PM

+2 Boost

In other words, we knew what we were getting into, but you don't need to know the truth.

leej - 11/3/2014 5:20:51 PM

+3 Boost

There was no 'winning' in this situation. To NOT save GM would have such a devastating effect on suppliers and so many residual industries, not to mention the number of retirees across the nation. And, there were political foes poised to attack no matter what the decision was. If Obama made either move, he was doomed with all the naysayers ready to blame him no matter the outcome. I just wish people were so concerned about the bailout of the banking industry...

TheSteve - 11/3/2014 5:29:36 PM

0 Boost

Isn't that similar to GMO manufacturers, who are lobbying the government NOT to have food labels that disclose they contain GMOs?

If the public knowing the TRUTH about you is a bad thing, then perhaps you should be doing something else!

randy3023 - 11/3/2014 5:56:33 PM

+1 Boost

Count the number of people left in Congress after tomorrow who VOTED for the bailout and compare that to the number of representatives who originally voted for the bailout.

The number will be astonishing. IF YOU VOTED FOR THIS WASTEFUL BAILOUT, a vote you made as a member of congress AGAINST public opinion, chances are you are history.