GM to say, 'more aid or bankruptcy'

Sooner or later it will become obvious to the politicians in Washington that this situation requires more than a bandage--more like a heart transplant.

As a taxpayer, I would prefer to see a "cram down" of the existing stock and bond holders. Then a complete restructuring of the company by a board of directors put in place by we the people.

I cannot understand why taxpayer money would be invested any differently than real money. I guess I just explained why--the people in congress have been throwing money around for so long they forget where it came from and are no longer treating our tax monies as they would treat their own monies. Sad.

clipped from www.marketwatch.com General Motors Corp. will offer the government the choice of giving it billions more in bailout money or seeing it file for bankruptcy when it presents a restructuring plan next week, according to a report published Saturday. The government has already committed $13.4 billion to GM as part of a federally-funded bailout. The automaker is expected to include its call for more funds in a restructuring plan it's required to submit to the Treasury Department by Tuesday, though the company isn't expected to include a dollar amount, according to the Wall Street Journal report. Chrysler is also expected to submit a restructuring plan on Tuesday.