Treasury reportedly says GM properly used escrow to repay loans
Despite the fanfare surrounding GM's repayment of a portion of its federal loans, some critics accused the company of using other government money for the payoff. Specifically, Senator Charles Grassley, the top Republican on the Senate Finance Committee, accused the automaker of performing a "TARP money shuffle" as a public relations stunt. Treasury Assistant Secretary for Financial Stability Herbert M. Allison disputed Grassley's claim in a letter on Tuesday.
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