GM not allowed to go bankrupt

[Uncleal]

http://finance.yahoo.com/news/GM-makes-new-bondholder-offer-rb-15370745.html?.v=8

And when smoke clears, the Govt. will own 72.5% of General Motors

Why do I get the feeling, that Legacy Pensions will be paid by U.S. Taxpayers

And sure as Hell they won't be paid by building lots of lawnmowers with seats
that nodody wants

[Hans Jaeger]

Actually 10 to 12 % less than that, the amount of GM that Canada will own by virtue of the bailout money that the Canadian and Ontario governments ponied up.

http://www.wheels.ca/article/611858