TARP Inspector To Review $3.5B GM-Americredit Deal

Law360, New York (September 23, 2010, 1:29 PM EDT) -- The special inspector general of the U.S. government's bailout program announced Wednesday that he had agreed to launch a review of General Motors Co.'s planned $3.5 billion acquisition of subprime auto lender AmeriCredit Corp.

Neil Barofsky, the Troubled Asset Relief Program's inspector general, confirmed his intent to conduct an inquiry into GM's acquisition of AmeriCredit in a letter released Wednesday by Sen. Chuck Grassley, R-Iowa.

Barofsky said the probe would be focused in part on what role the U.S. Department of the Treasury played in GM's...
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