“We have repaid our loan”

This man is only lying while his lips are moving:

     

Tip from the Instapundit.

Update (27 April).  Some grown-ups have noticed.  Unfortunately, it won’t make the lies stop.

Update (2 May).  Reason TV explains the shell game in detail.  And the NY Times deigns to notice.  Tip from the Instapundit.

Update (4 May).  The Competitive Enterprise Institute is going to make that GM ad into a suppository for Ed Whitacre and the whole bailout gang.  Tip from Michelle Malkin.

Update (17 May).  All is explained in this new remix:

Tip from The Hud.