The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (203612)	5/22/2009 4:10:48 AM
From: Travis_Bickle	Read Replies (3) of 306849

The puts haven't been following the stock price, maybe today it will be better. One week to go before they file. The Obama administration is preparing to send General Motors Corp. into bankruptcy as early as the end of next week under a plan that would give the automaker tens of billions of dollars more in public financing, the Washington Post reported Friday, citing sources familiar with the discussions. Under the draft bankruptcy plan for GM, the company would receive just short of $30 billion in additional federal loans, the report said, but added that the figure is a starting point in negotiations and could change. A bankruptcy filing would come in spite of a breakthrough deal between GM, the United Auto Workers union and the U.S. Treasury that would pave the way for lower labor and health-care costs at the struggling automaker. marketwatch.com Since they will be in default of their obligations a week from Monday, that should read "as late as the end of next week."

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