Tag Links: Obama, GM , Bankruptcy

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The Obama administration is preparing to send General Motors into bankruptcy under a plan that would give the automaker tens of billions of dollars more in public financing as the company seeks to shrink and reemerge as a global competitor, sources familiar with the discussions said.

Under the GM draft bankruptcy plan, the company would receive just short of $30 billion in additional federal loans, a source said.

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BREAKING SHOCKER! Obama Administration To Steer GM Towards Bankruptcy!

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