GM, big fat liar?

It would appear so. The president of GM has been appearing in commercials claiming that GM has paid back all of the "$6.7 Billion government loan in full". Is he telling the truth? Only if you complete ignore the $13.4 Billion escrow account that is still outstanding and was used to pay back the $6.7 billion loan. This was all part of the total $50 Billion that was part of the bail out plan. Sure the government got some stock for their (our) $50 Billion but what is that stock worth today?

So GM gets almost $20 Billion in loans and escrow monies. They then use part of the escrow to pay back the loans and attempt to call it all done. Sorry, have to call BS on that.

Why is the government allowing them to report the loans paid back "in full" when they are not? Maybe because the bail out was not very popular and there are a lot of people that refuse to buy GM cars as a result so by allowing GM to say that they have paid back the "loans" when they still owe a lot of money allows both GM and the government to save face and (they hope) get people buying GM cars again.