The Velvet Glove Comes Off For Carmakers As Obama Threatens Them With Bankruptcy

Well, well, well.  I see Obama has pulled out another card from the Bush playbook.  Not only has he forced GM’s CEO to resign, he’s threatening to send them into bankruptcy if they don’t get enough concessions from workers and bondholders (Tom Bratwaithe, FT, not online as of this writing): Officials said on Sunday night … Continue reading The Velvet Glove Comes Off For Carmakers As Obama Threatens Them With Bankruptcy