May 22, 2014

I’M SURE THE SEC WILL BE RIGHT ON THIS: GM Sure Recalled A Lot Of Cars Right After The Feds Sold Their Shares. “Even though the company had data demonstrating a faulty ignition switch for years, it didn’t initiate a full investigation or recall until February of 2014, two months after the government sold its stake in the company. The National Highway Transportation Safety Administration (NHTSA) didn’t initiate a full investigation of the issue until later that month, even though the U.S. government had owned the company for 5 years. The Justice Dept. also showed up late to the party, confirming that same month that it had initiated a criminal probe into the matter. . . . Instead of investigating fatally flawed GM components while the U.S. government was the company’s largest single owner, the NHTSA was busy harassing Toyota — one of GM’s top competitors — for an alleged malfunction.”