GM Bondholders Accept Deal, Bankruptcy Still on the Table

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Some holders of General Motors bonds have accepted a government-brokered deal to ease the company into Chapter 11 bankruptcy early next week. The Treasury Department will provide more than $50 billion and end up owning 72.5% of a new, much smaller GM. Rick Newman reports for US News and World Report, where he is chief business correspondent.

Credits

Guest:
Rick Newman - Yahoo Finance - @rickjnewman

Host:
Warren Olney

Producers:
Andrea Brody, Karen Radziner