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GM Reaches Breaking Point

Chapter 11

Crucial deal falls through overnight.

cheats/2009/05/27/gm-reaches-breaking-point/mcmanus-gm_5213_mbmnjj

American taxpayers can add another company to their portfolio: GM is expected to file for bankruptcy by Monday, as a debt exchange with bondholders that would have swapped $27 billion for a 10-percent stake in the company failed last night.

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