Grassley Calls For Probe Of GM's $3.5B AmeriCredit Deal

Law360, New York (July 23, 2010, 4:55 PM EDT) -- Sen. Chuck Grassley, R-Iowa, has called for a probe into General Motors Co.'s proposed $3.5 billion acquisition of subprime auto lender AmeriCredit Corp., noting that U.S. taxpayers still have a significant stake in the automaker in the wake of a 2009 bailout.

In a letter Thursday, Grassley asked Neil Barofsky, special inspector general for the Troubled Asset Relief Program, to conduct an inquiry into the due diligence and analysis done on GM's recently announced acquisition and whether the U.S. Department of the Treasury played a role...
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