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04-23-2010, 10:32 AM #1
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GM Repaid TARP Loans With TARP Money, Republican Senator Say
GM Repaid TARP Loans With TARP Money, Republican Senator Says
Friday, April 23, 2010
By Susan Jones, Senior Editor
Sen. Charles Grassley (R-Iowa)
(CNSNews.com) – A Republican senator is questioning General Motors’ claim that it has repaid its taxpayer-funded loans in full.
Senator Chuck Grassley is asking Treasury Secretary Tim Geithner to justify those claims. According to the Iowa Republican, GM has repaid its TARP (taxpayer-funded bailout) loans using other TARP funds.
The automaker – which is 61 percent owned by the U.S. and 12 percent owned by Canada -- announced on Wednesday that has fully repaid the $6.7-billion in loans it received from the U.S. and Canadian governments.
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