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The chairman of a House panel sharply criticized the government's $50 billion bailout of General Motors Co. on Wednesday.

Contrary to the Obama administration's assertions, "it is far from clear the bailout has succeeded in its goals of revitalizing the company," said Rep. Jim Jordan, R-Ohio, chairman of the House Oversight and Government Reform committee's panel on regulatory affairs, stimulus and government spending.

The panel held a hearing Wednesday on the bailout's long-term impacts.



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Auto Bailout Criticized By House Oversight And Government Reform Committee

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