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May 22, 2009

Report: GM to Enter Bankruptcy
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Back in the United States, the Washington Post is reporting the Obama
administration plans to steer General Motors into bankruptcy as early as
next week. The move would enable GM to take out nearly $30 billion in
additional government loans. Meanwhile, the government has increased the
bailout of GM’s financing arm, GMAC, with an additional $7.5 billion in
taxpayer money on top of the $5 billion it’s already poured in.



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