General Motors will file for bankruptcy on Monday in federal court in New York City, FOX Business Network has confirmed.
Looks like billions of taxpayer money that both Bush and Obama threw at GM and Chrysler to keep them out of bankruptcy was just an exercise in futility.
The current Obama Bailout plan is working. The news about the profit of $1.8 billion in interest payments on the first set of bank loans that were repaid is a good indication to it.
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