Rep. Paul Ryan (R., Wis.), ranking Republican in the House Budget Committee, and other House Republicans have petitioned Treasury Secretary Tim Geither for more information on the repayment of federal loans to General Motors.
In a written statemetn, Ryan said that, “Contrary to claims that GM has paid back its bailout in full, the automaker simply transferred $6.7 billion dollars from one taxpayer-funded TARP account to another.”
The fact is: the federal government still owns GM. The government remains deeply entrenched in the auto industry and the American people deserve to have transparent information on the financial health of GM.
You can read the letter here.