GM Bankruptcy Nearly Imminent As Bondholders Don't Agree To Stock Swap
ROYAL OAK, MI - MAY 27: The remnants of removed General Motors Pontiac and Buick signs are shown on the facade of a former Buick Pontiac new car dealership May 27, 2009 in Royal Oak, Michigan. GM announced today that it failed trying to trade its bondholders shares of stock for debt, which makes a bankruptcy filing for the company more likely.(Photo by Bill Pugliano/Getty Images)
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