White House: Bankruptcy May Be Leading Option for GM

By Jennifer Parker

Mar 30, 2009 8:17pm

The DOW plunged over 250 points today with General Motors and Chrysler facing the possibility of bankruptcy.

As I discussed tonight on World News with Charles Gibson, bankruptcy is very much on the table right now, and Obama administration officials tell me it’s likely the leading option.

But the Obama administration emphasized today that a structured bankruptcy does not mean that GM would go out of business entirely, and could emerge stronger from this.

Watch here:

–George Stephanopoulos

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