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GM CEO: Thanks for the Money, I Think We'll Declare Bankruptcy Now

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Killgore Trout3/31/2009 11:14:08 am PDT

re: #19 Dianna

Why didn’t they just do that the first time?


I think the old CEO ruled it out because all of the free money with no conditions or oversight. Once they figured out the government expected them to do stuff (like cut outrageous executive salaries) the plan didn’t look so appealing.