Come for the Politics, Stay for the Pathologies

Sunday, April 25, 2010

Accounts Payable: Gov’t Rules Apply

The Blogprof has been running an excellent series of posts on the deceptive  GM ad/claim that they’ve paid back their TARP loan in full, plus interest. Yesterday’s  post sums them up and links to all: GM Could Be In Trouble With the FTC Over Truth In Advertising.

H/T blogprof

When you’re owned by the Government (and let’s face it, when you’re  still into the Feds for $50 billion, you are owned), you play by their rules. In GM’s case, that apparently includes using government accounting methods.