White House Forces Out Wagoner as General Motors CEO: That Bailout had Strings Attached

by Benjamin Domenech on 1:02 am March 30, 2009

President Obama uses the threat of withheld cash to force out GM CEO Rick Wagoner and compel dramatic change to Chrysler, “marking one of the most dramatic government interventions in private industry since the economic crisis began last year.” Biggest losers? “The thousands of bondholders and lenders to both GM and Chrysler.”

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