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The Obama administration may be pressuring GM to sell shares soon to influence the November congressional elections and make the government's controversial investment look smart, some analysts say. But Whitacre and the government have said GM is in charge of the IPO timing. Sen. Charles Grassley, R-Iowa, on Friday asked a special inspector general overseeing the federal bailout fund to determine if GM and Treasury are helping taxpayers receive the largest repayment possible. "More than $40 billion in tax dollars is tied up in GM stock, so the stock sale is risky for the public," Grassley said. "The Treasury Department needs to minimize the risk for taxpayers."
[Associated
Press;
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