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Qui Tam

: Whistleblower Lawyer Blog

Treasury Department Announces TARP Investment in GMAC

By Finch McCranie, Esq.

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The TARP bailout funding continues, as the Treasury Department announced today that it will buy $5 billion in senior preferred equity with an 8% dividend from GMAC LLC.

Senator Charles Grassley has emphasized that TARP and other "bailout" funds must be protected through whistleblower protections and whistleblower laws such as the False Claims Act. The GMAC announcement today will present ample opportunities to test those premises on which Congress approved the bailout funding.

The Treasury announcement is reprinted below:

Full post as published by Whistleblower Lawyer Blog on December 29, 2008 (boomark / email).

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