Auditor Blasts Obama Car Dealer Closing

Monday, 19 Jul 2010 09:22 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
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.

To read the full story Go Here Now .



© All Rights Reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rush Limbaugh's Call Screener: Liberalism 'Horrific' to Black Communities

Sunday, 21 Sep 2014 22:23 PM

Calling liberalism's effect on black communities "horrific," the longtime call screener for Rush Limbaugh says that for  . . .

Activist Suing Over NYC Refusal to Put Anti-Jihad Ad on Buses

Sunday, 21 Sep 2014 20:00 PM

Activist Pamela Gellar is suing the New York City transit agency for refusing to place her anti-Jihadist ad on the city . . .

Panetta: Obama Wrong on Iraq Pullout, Failure to Arm Syrians

Sunday, 21 Sep 2014 19:36 PM

Former Defense Secretary Leon Panetta says his old boss, President Barack Obama, erred when he failed to leave a residua . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved