Legality Of GM Bankruptcy Now Called Into Question - Should It Be Overturned?

Leaders of the White House task force that orchestrated the government bailout of General Motors and Chrysler in 2009 said today that they knew nothing about GM’s defective ignition switch at the time from talking to the top executives involved in crafting the company’s turnaround plan.

“We can only know what the management knows and what the management chooses to tell us,” Steven Rattner, the lead adviser on the task force, said in an interview on CNBC today. “As far as I know, none of the management people that we were dealing with knew about it, so of course we didn’t know about it -- nor could we have.”

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MrEE - 5/21/2014 8:45:20 PM

+2 Boost

The backlog of recalls should good start toward the next GM bankruptcy.

MorePower - 5/22/2014 12:15:49 AM

+1 Boost

If the court allows an entity, one that knowingly & negligently disregarded its duty to protect its customers, and the general public, from danger from the correct and proper use of one of its products, then we are all screwed!

MorePower - 5/22/2014 12:17:53 AM

+1 Boost

This bankruptcy defense has/is already being used in the West Virginia chemical spill that left thousands of residents without drinking water.