  :Totally agree. The distinction is a trifle complicated to explain since the loan came from the Federal Financing Bank, which is a bank owned by the government. But the loan *could* have come from a private bank, which would have been the same. :*It might also be useful also to add a more comprehensive background on the loan guarantee program itself. The Bloomberg Government report has a lot of material.  Among other items, the losses from this loan guarantee program have not exhausted the budgeted loan reserve, and are not likely to. :*Also, I garbled the paragraph on Kaiser while adding recent information from the House committee e-mail dump. :Lots of work, and I can't imagine when I will be able to do it.  So I should shut up now.   