When a controlling shareholder in a corporation sells shares to the public, and the corporation subsequently discloses damaging information known to it at the time of the sale, the SEC normally gets to work investigating a possible crime. Withholding such data can be a crime, defrauding investors by withholding material information.  It would appear that something like that happened when the federal government sold GM shares to the public. In the private sector, it would be time to call in the criminal defense lawyers. Writing at The Federalist, Sean Davis notes, “GM Sure Recalled A Lot Of Cars Right After The Feds Sold Their Shares”: …at least GM acted as soon as it knew there was a problem. Because it’s not like the company would sit on the information and do nothing about it, right? Right? Not so much. GM knew about serious problems with the ignition switch for years, going back to at least 2007. At that time, GM had hard data...(Read Full Post)