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Monday, May 3, 2010

That cheeky little GM CEO

I too had heard the commercials by General Motors CEO Ed Whitacre claiming that that GM has paid back its bailout "in full and ahead of schedule." I’ve been wondering how in the world General Motors could have paid off its federal bailout loan so quickly when their business is still hurting. Turns out, they didn’t quite do that. They used some of their TARP money to pay back their other TARP money.

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