What happened? Just a couple weeks ago, we were being told that a GM (GM) bankuprtcy would cost $100 billion, destroying its network of suppliers, while scaring off potential car buyers. But GM execs have thrown in the towel, and would be willing to accept some kind of government-sponsored bankruptcy. Now they think the results wouldn’t be quite so cataclysmic to the US economy.
Perhaps now that nobody thinks they can possibly survive in their current form, the whole “save us or we’ll nuke the economy” act has finally worth thin. We can hope.