GM bankruptcy near as bond swap fails, no Opel deal
General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed, while the fate of GM's European brand Opel remained uncertain after marathon talks with German officials ended without a deal. Full Story »
Posted by Derek Hawkins
The big whiff in the news media's coverage of the GM story is that hundreds of thousands of small investors -- many retirees counting on dividend checks -- were completely wiped out, a possibility not disclosed until the last business day before GM filed for bankruptcy. Is this the face of contemporary populism?