Will bankruptcy save GM?

General Motors files for bankruptcy protection under a government plan to make the automaker profitable again

What happened

The Obama administration is sending General Motors into bankruptcy protection under a plan to shrink the struggling industrial giant to make it profitable again. The federal government will invest another $30 billion in GM—bringing taxpayers' commitment to $50 billion—and 60 percent of the new GM will be owned by the United States. (The Washington Post)

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