Fox Business’ Charles Payne calls $35 million fine for GM ‘bogus’
It was announced today that General Motors would be fined $35 million for delays in recalling vehicles for ignition switch repairs:
From the USA Today:
The fine is part of an agreement with the DOT to settle its “timeliness” inquiry into whether GM told the government with the required five business days after finding a safety defect.
GM admits in the consent agreement with the government that it didn’t do so.
GM also agreed to provide the DOT’s National Highway Traffic Safety Administration “full access to the results of GM’s internal investigation into this recall.”
The amount of the GM fine is the maximum the NHTSA can levy.
Considering what taxpayers lost on the GM bailout, the fine is considered a relative drop in the bucket:
To sum it up with extreme sarcasm: