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Lawmaker Calls GM Payment Misleading – WSJ.com
Saturday 24 Apr 2010, 08:09
Filed under: Uncategorized

A top Republican senator said General Motors’ announcement this week that it will repay its federal loans early is “nothing more than an elaborate TARP money shuffle.”

In a letter to Treasury Secretary Tim Geithner, Sen. Charles Grassley of Iowa said that the source of the funds for the $4.7 billion repayment is not GM earnings, but rather a Treasury escrow account. He chided GM and the White House for suggesting in recent statements that the money is from GM earnings.

via Lawmaker Calls GM Payment Misleading – WSJ.com.

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