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Fox Business Alert: Sorry, Charlie, you've just been one-upped … by a car.
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Here's the deal.
The worm turns.
From the president who threw Charlie Rangel under the bus…
A White House hit-and-run on the facts.
Charges today the administration's been deliberately hiding safety records that prove Toyota (NYSE:TM) isn't entirely to blame for that whole steering mess.
In fact, it might not be to blame for much at all.
…that Washington's been so busy trying to prop up GM that it's making Toyota a convenient foil. And an easy one. Problem is … maybe a wrong one.
What's worrisome and potentially explosive is that hiding vital information from the public isn't only a no-no, it's tantamount to a cover-up.
And if proven, potentially a crime.
And all to keep Toyota in PR hell, so rescued U.S. auto makers can capitalize on the hell.
The wall street journal reporting it's been going on a while.
More with the reporter breaking this story in a second.
First to the obvious implications now.
If it's proven the white house led a systemic effort to make Toyota look bad when in fact, not everything Toyota did "was" bad … well, that's very bad.
For the administration, and Democrats in general.
It feeds auto bailout critics fears that Toyota's safety issues provided ample fodder for Americans to look elsewhere.
As one auto analyst explained to me moments ago … why destroy the narrative that destroys Toyota?
Hard to say, this much is not.
The administration has some 'splainin' to do…
And for a president intent on throwing Charlie Rangel under the bus, talk about your over-the-top nightmares.
Because if true … this makes Charlie's real estate deals seem like a leisurely Sunday drive in the park.
Right up until the brakes snap, the steering goes, and the car careens off a cliff.
None of this solves Charlie's problems.
For now, it just pushes 'em to the back seat.