GLG News Analyses of the following article:
U.S. Expected to Own 70% of Restructured G.M.
Published at: www.nytimes.com
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As Goes the Motors Goes the Nation
June 1, 2009
The government is making last minute attempts to find an agreement to prevent GM bankruptcy. $20 billion dollars has been poured into GM, and another $30 billion is being considered, along with a sale of assets to a new GM, and government ownership of as much as 70% of the company. Bondholders have rejected the agreement to receive 10%. Warnings are being given from those with experience about the new Marxist America.
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