[Sax1031]

Originally Posted by fielderLS3

Yes, but the government was repaid $6.7B with $6.7B of the government's money. Imagine if you had $2000 in credit card debt. If you took out a $2000 cash advance from that same credit card to pay off the initial balance, you still owe $2000. You just owe it for something else on paper. GM basically took out a loan to pay the loan. They old loan is paid off, but it wasn't paid down, it was just refinanced into a new, different loan.

On a side note, isn't it amazing how there can be so many different opinions on what is acceptable and what works in accounting. When did accounting stop being a means to accurately keep track to the finances, and turn into a shady, purposely complex, and obscure gimmick game? If I tried to keep track of my check book the same way GM under the government did, I'd be put in jail.

The tarp money they used to pay off the loan was not a loan itself. So they owe nothing else back technically.