GM’s announcement that they had repaid their federal loan in full was done by using money from another federal loan to take care of the TARP loan that they received after going into bankruptcy.
Guess what!! GM is STILL on the hook, except now they owe even more. Way to go, GM!
DISGRACEFUL! And now, a question: since the statement was done in a commercial and played across the country on national TV, can the FCC sue for false advertising?
The only good news coming from GM right now is that they’re making money. In the end, that’s what matters, but they need to come clean with what they did to “repay” their loan “in full.”
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