The Daily Show with Jon Stewart: 12/1/11

Did GM Really Pay Back? Technically, Yes. TARP? Yes.

GM has “repaid” their loans. Technically, that’s true. But in actuality, they only got a different loan from TARP to pay the government back and now they owe money to TARP. So basically they still have that large debt even though they claimed to have “repaid” the cash.

In summary, this is a shell game. Covering up your debt with another loan to claim your financial situation is better. Like the example on the website, it’s like paying your Visa card with your MasterCard to say you’re in a better financial situation.