Do You Believe GM Wasted Bailout Money?by Tim Manni
On Saturday we posted a story regarding a CNN poll that expressed Americans’ souring opinions regarding the survival of both General Motors and Chrysler. A poll from CNBC today seems to agree.
As of 12:20 p.m. EST, out of 3,868 responses, 83% believe that General Motors wasted the $13.4 billion in taxpayer-supported aid they received.
Readers: Who do you believe wasted billions — the U.S. government or General Motors?
A report has surfaced today that Treasury officials have instructed GM to begin to prepare for an upcoming bankruptcy filing on June 1:
The preparations are aimed at assuring a GM bankruptcy filing is ready if the company fails to reach a deal with bondholders to exchange roughly $28 billion in debt into equity in GM and to get needed concessions from the United Automobile Workers union.