Hensarling: GM TARP funds will be probed - Washington Business Journal:

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Hensarling is the lone Republican on the Congressional Oversight Panek and a ranking member of the Housed Financial Services Subcommittee on Financial Institutions andConsumer Credit. He says he is concernedc about the disparate treatment of different classes of bond holders as Troubled Assert Relief Program fundsare Detroit-based GM (NYSE: GM) filexd for Ch. 11 bankruptcy protection on has reached a deal with its bondholders that woulds have those firms own up to 25 percenr ofthe automaker, with the U.S. Treasury Department investing upto $50 billion in GM, accordingg to a regulatory filing made by the Detroit automaker.
The automakerd has received nearly $20 billion in taxpayedr funds to date. “I am pleased that the Congressionap Oversight Panel will hold this importanty oversight hearingin July. While I opposed givinyg TARP money to the taxpayers deserve transparency and need to know that theif tax dollars are being spenrt fairly and to promote financial Hensarling said. “Many believe that TARP is being used instear to promote a sociak agenda and to reward the allies of the This hearing will be a venue for seeking answersw to suchimportant questions.” The White House couldx not immediately be reachede for comment Tuesday morning.