[USFRIENDINVICTORIA]

“If the money never gets to the borrower, then it's not a loan. Scam is a more appropriate word. Of the €141.7 billion bailout, only €47.2 can be construed as a loan all of which nearly all went to government operations, none to the average Greek citizen.”

This is a completely absurd statement. Let me reword it in different terms, and the absurdity of it will be apparent.

“Gregor's Visa account is overdrawn, and he can't make even the minimum interest payments out of his wages. He borrows the money for the interest payments from his MasterCard account. “It's a scam” says Gregor. “All of the money I've borrowed from MasterCard went to Visa. I wasn't able to use any of it for beer and that new wide-screen TV I need.”

[Palmetto Patriot]

Scam is a more appropriate word.

Like GM paying off its loans from US Gov't with TARP money.

Did GM Pay Back Its Loan? Sort Of