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Fox Business’ Charles Payne calls $35 million fine for GM ‘bogus’

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http://twitter.com/#!/cvpayne/status/467334351056035840

It was announced today that General Motors would be fined $35 million for delays in recalling vehicles for ignition switch repairs:

http://twitter.com/#!/AP/status/467313161994256384

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.

http://twitter.com/#!/cvpayne/status/467337335835987968

@cvpayne Why this will be downplayed:
1.GM one of the biggest media ad buyers.Don't bite hand that feeds
2.GM associated with Obama— Rick S. (@RS1022) May 16, 2014

Considering what taxpayers lost on the GM bailout, the fine is considered a relative drop in the bucket:

http://twitter.com/#!/nickhebb/status/467335520390250496
http://twitter.com/#!/PhilS33/status/467320451522256896
http://twitter.com/#!/ThePantau/status/467312584325341185

To sum it up with extreme sarcasm:

http://twitter.com/#!/MelissaTweets/status/467301662835884032

Read more: http://twitchy.com/2014/05/16/people-died-truth-was-hidden-fox-business-charles-payne-calls-35-million-fine-for-gm-bogus/

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