General Motors Goes For Broke, Offers Last Plan Before Bankruptcy

by Benjamin Domenech on 1:39 am April 28, 2009

All the proposed deals come down to this last one: a nationalization with more than 50% taxpayer ownership of the failing carmaker, a plan condemned as “neither reasonable nor adequate” by bondholders forced to write off billions. Without a decision, they’ll settle this in the courtroom. Little hand says it’s time to rock and roll.

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