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CEI's FTC Complaint Against General Motors Over Bailout ad
CEI today accused GM of deceptively advertising that it had repaid its government bailout. In a formal complaint filed with the Federal Trade Commission, CEI argued that GM’s new televised ad campaign misleadingly implied that it had repaid all the funds it had received from the federal government. In fact, GM has repaid only the federal loan of about $7 billion, but the government still has around $40 billion tied up in GM stock. GM’s ad is aimed at defusing taxpayer anger over the bailout, but the bailout itself continues in nearly full force.