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April 13th, 2009

Do You Believe GM Wasted Bailout Money?

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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.

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One Response to “Do You Believe GM Wasted Bailout Money?”

  1. Randy Smith Says: December 16th, 2010 at 1:59 pm

    GM is as corrupt today as they were before the filing. Check out this story as to what they did to one Cadillac dealer. In California we have to deal with their fair haired child and favorite dealer who is the curtain for GM running their own stores. Some day this will be exposed and this puppet dealer will be gone. Shame on GM for this correption and treating your other dealers so poorly.

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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