General Motors and TARP Loans
I thought it odd when recent TV ads from the CEO of General Motors claimed that the company had paid back its government loans. I wasn’t aware that the company had been selling any additional cars thereby generating extra revenues. Well, apparently through – oh, just a wee bit slight of hand accounting practices, GM is able to claim it has paid back the loan. However, the truth is, GM hasn’t paid back anything.
Categories: GM, Politics, Uncategorized
General Motors, Loans, TARP
qwertydude's blog 
What a shock…”
When we recently bought Buick, we should have told the saleman that we were going to finance the Buick in the a similar way that GM works its accounting; we’ll keep the asset (the car) and only transfer money from our savings account to our checking account.