White House May Be Leaning To BK For GM

It looks like the Bush administration is going to kick the auto problem into the bankruptcy courts. That maybe where it has belonged all along.

Market Watch is reporting that the Bush people are saying that an orderly bankruptcy is one course of action they are considering for the auto companies. The fact that they would even let the word pass their lips is probably a fair indication of where this is going. I’ll think this through and maybe write a little more tonight about it. There’s a lot of politics going on in this one.

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