Cronyism Costs Billions

……GM knew about serious problems with the ignition switch for years, going back to at least 2007. At that time, GM had hard data from multiple crashes showing that some of its ignition switches had failed to function properly. The U.S. government officially bailed out the automaker in December of 2008. Throughout the five-year period of U.S. government ownership, nothing was done to address the deadly switch. According to one timeline of events, GM’s new CEO, Mary Barra, claims she did not even learn of the problem until December of 2013, which just so happens to be when the federal government sold its final shares of GM stock (at a loss of $10 billion, naturally)…..


http://thefederalist.com/2014/05/21...-cars-right-after-the-feds-sold-their-shares/