GM Bankruptcy Judge Opens Door to Billions

By: Associated Press
By: Associated Press

A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financing.

Judge Robert Gerber gave final approval to the financing on Thursday. He had given preliminary approval to GM using $15 billion of the total at a hearing earlier this month.

The billions in financing, which is largely being supplied by the U.S. government, is intended to keep Detroit-based GM going until it can sell its assets to a new company and emerge from Chapter 11.

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  • by Houston Location: Mason on Jun 25, 2009 at 11:33 AM
    The rich are getting all this money. Billions are going to the executives and lawyers and they send all the jobs someplace else. The judges are no better than the politicians that let them do this to the American people.
  • by sue on Jun 25, 2009 at 08:48 AM
    The billions in financing is largly being supplied by the taxpayers- or the future taxpayers, our grandchildren
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