GM Bankruptcy: May 31st, 2009

May 31, 2009 – 1:43 pm

http://www.cnbc.com/id/31027525

Looks like GM bondholders agreed to a debt for equity exchange today. This officially allows GM to declare chapter 11 on Monday.

What a low blow to the american taxpayer. Billions were pumped in and then the company goes bankrupt. Atleast another one of my predictions came true….

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