An orderly bankruptcy may be in the works
What is an ?orderly? bankruptcy? It’s the phrase that the Big Three U.S. automakers were throwing around yesterday with the White House. Apparently it’s one option available to aide GM and Chrysler. White House. The White House confirmed yesterday that Treasury Secretary Henry Paulson was considering the unusual option to help bail out the auto industry. The Takeaway talks to David Sanger, Chief Washington Correspondent for the New York Times, to explain this new option.
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