Wednesday, April 22, 2009

GM Is Becoming a Royal Debacle

It's good to be the king -- until you start tripping over your own robe.So King Barack the Mild is finding as he tries to dictate the terms of what amounts to an out-of-court bankruptcy for Chrysler and GM. He wants Chrysler's secured lenders to give up their right to nearly full recovery in a bankruptcy in return for 15 cents on the dollar.

read more | digg story

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