The TARP Shuffle
In May, 2010, General Motors and the U.S. Treasury Department took the dance floor together for a turn at the “TARP money shuffle.” With much fanfare, the automaker’s chief executive officer Ed Whitacre announced that his company had fully repaid the bailout loans it received from the federal government. Five years ahead of schedule, no less.But, while the announcement may have made for good public relations, there was not much substance behind the corporate chest-thumping.
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