More taxpayer money, fewer jobs as Detroit gets closer to reality.
Category Archives: Chapter 11 Bankruptcy
GM, Chrysler Face Bankruptcy
The U. S. government has hired lawyers to try to move them ahead of investment banks in priority of who gets paid first. In Chapter 11 bankruptcy, the Treasury Dept. could leapfrog over the prior loans to the auto companies. GM and Chrysler have steadfastly maintained they are not considering filing Chapter 11. There is…
