Bailout on the Brink

[Bob Chadwick]

[h=5]This hasn't been getting much press on this but if the judge rules against a a backroom deal hatched by GM to fulfill the Obama administration’s demand for a quick bankruptcy, GM will be back in bankruptcy with nearly all of its cash on hand gone and in worse shape than it was when it collapsed in 2009.

NY judge ruling soon on shady aspects of GM bailout | Washington Free Beacon[/h]

 

[Old Ted]

This hasn't been getting much press on this but if the judge rules against a a backroom deal hatched by GM to fulfill the Obama administration’s demand for a quick bankruptcy, GM will be back in bankruptcy with nearly all of its cash on hand gone and in worse shape than it was when it collapsed in 2009.

NY judge ruling soon on shady aspects of GM bailout | Washington Free Beacon

Could General Motors (GM) Be Headed For Bankruptcy This Week? | iStockAnalyst.com

Rather than the bankruptcy route I imagine you will see GM paying out a lot of money. Obama would probably see to
that rather than see his old deal scuttled.

 

[Bob Chadwick]

The auto bailout is supposed to be one of his many accomplishments (LOL). It isn't exactly the bright, shining star they would like you to believe. In addition to this, it appears that the taxpayers are going to lose a couple hundred million on the sale of the shares held of the Feds.