GM IGNITION SWITCH
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But what kind of company did the government save? One that waited a decade to recall millions of cars with a lethal defect that would shut down engines without warning. One that chose not to replace the defective part, an ignition switch, when it was first detected. It would have cost less than $1 a car to do so.The automaker, of course, isn't the only big company facing criticism for its actions before or after a government bailout. JPMorgan Chase, Bank of America and Wells Fargo have been accused in multiple federal lawsuits of lying about mortgage investments they knew were lousy in order to boost profits. Foreclosure abuses associated with the mortgage servicing arms of these companies have led to tens of billions of dollars of legal settlements.