Tags: Auditor | Obama | Car-Dealer | Closing

Auditor Blasts Obama Car Dealer Closing

Monday, 19 Jul 2010 09:22 AM

The administration's request that General Motors and Chrysler Group ramp-up the closing of U.S. dealerships was unnecessary and may have aaccelerated unemployment, a government auditor says, according to a report in the Washington Post.

The United States "should have at least considered" whether the benefits of speeding up the closings outweighed costs from a potential loss of tens of thousands of jobs, according to the report by Neil Barofsky, special inspector general for the Troubled Assets Relief Program.

"Such dramatic and accelerated dealership closings may not have been necessary and underscores the need for Treasury to tread very carefully when considering such decisions in the future," Barofsky said.

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The administration's request that General Motors and Chrysler Group ramp-up the closing of U.S. dealerships was unnecessary and may have aaccelerated unemployment, a government auditor says, according to a report in the Washington Post. The United States should have at...
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2010-22-19
 

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