The Obama administration announced today that GM and Chrysler had 60 days to get their act together. Not likely to happen, they have been around for decades and have not been able to do it in that time.
He said bankruptcy was the best solution. What took so long? Most of us knew that months, if not years ago.
The market did not like the announcement but they had just been asleep at the wheel for a while. This will eventually make the market and GM stronger. Not so sure Chrysler should not just go away.
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