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GM Pays Back TARP Loans With…TARP Loans

April 24th, 2010

Why not? It works for Uncle $cam!

Via: Reason:

Have you driven a Ford lately? That might be a good idea, as it seems that GM’s claims to have repaid its TARP loans in full and ahead of schedule are, well, bullshit. Sen. Charles Grassley (R-Iowa) has sent a letter to Treasury Secretary Tim Geithner pointing out that GM has apparently paid back its TARP money with…more TARP money.

Research Credit: JF

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