General Morons ~ GM's Deceitfully Slimy Ad...

Reason.tv skewers General Motors CEO Ed Whitacre who brags...

"...in TV commercials and newspaper columns that GM has paid back its bailout "in full and ahead of schedule." [This is] fanciful to the point of deceit. GM received $50 billion in TARP funds (never mind that TARP was only supposed to cover financial institutions). About $7 billion of that came in the form of a straight-up, low-interest loan. And about $13 billion came in the form of an escrow account. So how has GM, which lost $38 billion in 2007 even as it sold 9.4 million cars, paid back its debt? It took money from the escrow account to pay back the $6.7 billion loan."

Is this what "American ingenuity" has become? Slimy bullshit...