New at Reason: Shikha Dalmia on GM's Phony Bailout Payback

GM CEO Ed Whitacre announced in a Wall Street Journal column last Wednesday that his company has paid back its government bailout loan "in full, with interest, years ahead of schedule." But as Shikha Dalmia writes, before belting out their victory aria, GM-boosters ought to hear the whole story—not just the fairy tale version about Government Motors' grand comeback that Whitacre is feeding them. In reality, Dalmia notes, the company is simply setting the stage for another taxpayer shakedown.

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