Judge Set to Rule on Case that Could Reverse Auto BailoutSubmitted by emalvini on Thu, 12/06/2012 - 20:03
Judge Set to Rule on Case that Could Reverse Auto Bailout
BY: Bill McMorris
December 6, 2012 3:03 pm
A New York federal judge may rule imminently on a case that could reverse the General Motors (GM) bailout and send the company back into bankruptcy, according to sources close to the case.
At issue is a backroom deal hatched by GM to fulfill the Obama administration’s demand for a quick bankruptcy, draining the automaker of nearly all of its cash on hand and leaving it in worse shape than it was when it collapsed in 2009.
Read more: http://freebeacon.com/bailout-on-the-brink/