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Treasury Secretary Timothy Geithner praised GM's claimed repayment of its government bailout loans, saying in an April 21 statement that "we are encouraged that GM has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability." Geithner's statement appeared to be timed to support a national advertising television campaign by GM in which the automaker's head, Ed Whitacre, trumpeted the claim that the repayment was made "in full, with interest, ahead of schedule, because more customers are buying vehicles like the Chevrolet Malibu and Buick LaCrosse.” In fact, of course, GM's repayment was made using other government bailout funds under the government's Troubled Asset Relief Program (TARP) Read more at the Washington Examiner here. |
