Robbing peter to pay paul?
Quote:
Originally Posted by derklug
The way I interpret the payoff is that GM used money given to it in exchange for stock to pay off a secured loan. Kind of like using a credit card to pay off a car loan so that if you were to have problems, you wouldn't lose the car. As the TARP money doesn't have intrest attached, and the loan presumably does, this makes economic sense.
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in the case you stated above you would STILL be in debt, like someone said here if you pay off your visa card with your american express card, don't you still owe american express money?
so in reality what did you pay off, if the money you used wasn't your own?