GM is Thicker Than Water

[Frank J. Lhota]

General Motors has repaid its TARP loan with interest. This repayment
has been heralded in the news as well as a slew of GM advertisements.
Like so many news stories, this incident reminds me of a Laurel and
Hardy bit. Consider the following question: given that GM is still
running in the red, how did they obtain the money to repay the loan? As
the following article explains, the Senate looked into that question,
and the Treasury Secretary testified that GM repaid the loan with TARP
funds:

http://realclearpolitics.blogs.time.com/2010/04/23/gms-money-shuffle/

So the TARP money was repaid with, er, um, TARP money. Isn't this the
kind of accounting that got Bernie Madoff into trouble? Actually, I
first heard this kind of transaction before:

While we're on the topic, which L&H car is most suitable for the cash
for clunkers program? I'd vote for the one from "Two Tars"
--
"All things extant in this world,
Gods of Heaven, gods of Earth,
Let everything be as it should be;
Thus shall it be!"
- Magical chant from "Magical Shopping Arcade Abenobashi"

"Drizzle, Drazzle, Drozzle, Drome,
Time for this one to come home!"
- Mr. Wizard from "Tooter Turtle"

[Eric Python]

Post by Frank J. Lhota
While we're on the topic, which L&H car is most suitable for the cash
for clunkers program? I'd vote for the one from "Two Tars"

Definitely "One Good Turn": L&H sell their car for $125 and the car
immediately falls apart after being sold.

[Frank J. Lhota]

Post by Eric Python

Post by Frank J. Lhota
While we're on the topic, which L&H car is most suitable for the cash
for clunkers program? I'd vote for the one from "Two Tars"

Definitely "One Good Turn": L&H sell their car for $125 and the car
immediately falls apart after being sold.

Good point! And while we're at it, we should note that the boys have
also driven some quite durable autos. Just think back to the cars you've
driven, and ask yourself how many of them could have come out of a
street car collision in one (really bent) piece.
--
"All things extant in this world,
Gods of Heaven, gods of Earth,
Let everything be as it should be;
Thus shall it be!"
- Magical chant from "Magical Shopping Arcade Abenobashi"

"Drizzle, Drazzle, Drozzle, Drome,
Time for this one to come home!"
- Mr. Wizard from "Tooter Turtle"