Investors Think GM Is Headed For BankruptcyBy
Investors soaking in President Obama’s plans for GM think the automaker is headed for a quickie 30-day bankruptcy handled by the Feds starting in June.
GM shares were down 22% in mid-day trading, while the Dow was down around 3%.
Consumers take heart. The White House has no interest in GM falling apart. And the Feds are guaranteeing GM warranties like they do bank accounts.
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