“Motors Liquidation Company” on The Daily Caller

President Obama’s tax-cheat treasury secretary, Tim Geithner, is trumpeting the fact that General Motors has paid back a small fraction of what taxpayers gave the company, noting that “GM had repaid in full the $4.7 billion balance it owed under the government’s Trouble Asset Relief Program.” “But this so-called ‘repayment’ was just an accounting trick. GM used government bailout money to make the ‘repayment,’ as the New York Times has noted.” (more)

The Treasury Department, under fire for supporting General Motors’ claim that the company was paying off its government bailout with that same bailout money, is trying to set the record straight. (more)

Detroit — Gov. Jennifer Granholm signed a three-bill package today making Michigan the 24th state to ban text messaging while driving. (more)

As greater attention is placed on keeping vehicles safe from unintended acceleration, General Motors announced Monday it is expanding the use of brake-override systems into all its vehicles sold globally by the end of 2012. (more)

There’s no point trying to deny it: General Motors and Chrysler are essentially nationalized industries. They are largely owned, financed and (at the macro level) managed by the federal government. So it comes as no surprise that some people, especially conservatives, are outraged that these government-owned entities are lobbying the same federal government that backs them. That outrage is misplaced. What looks like a vicious circle is actually a virtuous one—and exactly how things should work. (more)

What’s legal for billionaires to do alone, but illegal for you to do with your neighbors?  Until a federal court decision last Friday, the surprising answer was:  spend freely on political ads. (more)

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With the president’s signature on the health care bill Tuesday, roughly 50 percent of the U.S. economy has fallen under the purview of the federal government. (more)

General Motors’ new chief financial officer backtracked on a forecast by the company’s boss in January that taxpayers will make a profit on GMs $50 billion bailout by the federal government. (more)

WASHINGTON – The Obama administration’s pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and has no strategy for repaying its $16.3 billion taxpayer bailout, according to people familiar with the negotiations. (more)

In November 2008, White House Chief of Staff Rahm Emanuel famously said, “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before.” The Obama White House has followed this Rahmism to a tee. (more)

On Nov. 23, 1986, CBS’s “60 Minutes” broadcast a 17-minute segment, “Out of Control,” about a rash of reports of a “sudden unintended acceleration” problem with the Audi 5000. It was presented by correspondent Ed Bradley, a man who now stands in the annals of TV journalism as a revered and legendary figure. (more)

Feb. 23 (Bloomberg) — General Motors Co. reached a final agreement today to sell Saab Automobile to Spyker Cars NV for cash and preferred shares. (more)

HONG KONG — Hostility from Chinese regulators and bank financing problems have raised two potentially insurmountable obstacles to plans by an obscure Chinese machinery company to buy General Motors’ Hummer division, people close to the negotiations said on Tuesday. (more)

Color of Change, the grassroots nonprofit founded by former Obama Green Jobs Czar Van Jones in the wake of Hurricane Katrina, appears to be mounting a challenge to the Congressional Black Caucus (CBC). The New York Times recently reported the group has used funds from “corporate backers such as Wal-Mart, AT&T, General Motors, Coca-Cola and Altria, the nation’s largest tobacco company” to pay for glitzy CBC events and pay off CBC debts. (more)

WASHINGTON — When the Congressional Black Caucus wanted to pay off the mortgage on its foundation’s stately 1930s redbrick headquarters on Embassy Row, it turned to a familiar roster of friends: corporate backers like Wal-Mart, AT&T, General Motors, Coca-Cola and Altria, the nation’s largest tobacco company. (more)