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It's not Chapter 11 if the government buys shares. It's Federalization of the company. Like how they do it in Venezuela.
Remember we are in uncharted waters. Normally the Constitution also keeps the executive branch out of the bankruptcy court. As a seperation of powers. But this executive branch has complete CEO / Board level control of GM.
So this has never happened in America before. It's not an A typical corporate bankruptcy at all.
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