A day after the Obama administration hailed progress in the government-sponsored turnarounds of General Motors and Chrysler, congressional Republicans leveled criticism at the administration's aid to the industry.
"It is unclear how GM and the administration could have accurately announced yesterday that GM repaid its TARP loans in any meaningful way," Grassley said in his letter to Geithner, referring to the $700-billion Troubled Asset Relief Program.
"It looks like GM merely used one source of TARP funds to repay another," he said.
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