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"The threat of GM going bankrupt still is very real," she said in a telephone interview.
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It's an option...but it's an absolute last-ditch scenario option. The administration's automotive committee recognises a stubborness amongst the bondholders, specifically, that needs to be worked out (the brunt of the Union concessions has been done already)....and they've been on record as stating that they don't believe bankruptcy is the proper way to do this. I'm not too worried. By the end of this year, early next...I personally think we'll be breathing sighs of relief....
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Originally Posted by nester7929
They are basically in a bankruptcy program already, it's just not called bankruptcy outright due to the public's possible reaction.
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Pretty much. They are working to do everything that would be done in bankruptcy on their own. Bypassing the risk and the perceptions.