Whatever it takes! That's the latest report about what the government is willing to do to save GM. After bondholders rejected taking pennies on the dollar for their debt, almost assuring that GM would have to head into bankruptcy, the Treasury Department, already in for $20 billion appear to have no choice but to spend more to save their investment.
Excuse me, but isn't this how Barings went bankrupt? Orange County? It's almost the same. Uggghhhh. Black hole.
Tuesday, May 26, 2009
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