Investors Think GM Is Headed For Bankruptcy

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.

Follow “David Kiley” on Twitter

    Before it's here, it's on the Bloomberg Terminal.