Rockefeller Statement on Findings of TARP Watchdog Auto Dealership Report

July 19, 2010

Chairman RockefellerWASHINGTON, D.C.—Senator John D. (Jay) Rockefeller IV, Chairman of the U.S. Senate Committee on Commerce, Science, and Transportation, issued the following statement regarding the findings of a report by the special inspector general for the Troubled Asset Relief Program (TARP) on the Obama Administration’s handling of auto dealer closings in the wake of GM and Chrysler’s bankruptcy last year:

"I requested this study to make sure that terminated dealers were being treated fairly in this process and that the American taxpayer was well served. I believe it is incredibly important to present a transparent picture of this issue – especially because taxpayer money was a key component of this effort. This report shows that Congress did the right thing when it gave all dealers the right to appeal terminations before a neutral arbiter. I am grateful that GM reinstated a number of its dealerships in my state of West Virginia. It is my hope that this report will send a clear message that unfairness in the termination process will not be tolerated. I will continue to closely monitor the status of this important issue.”