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Poll: Was GM Bailout Wasted Taxpayer Money?

CNBC.com
Monday, 13 Apr 2009 | 10:23 AM ET

The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite GM's public contention that it could still reorganize outside court, people with knowledge of the plans said during the weekend.

GM, which has been granted $13.4 billion in federal aid, insists that a quick restructuring is necessary so its image and sales are not damaged permanently.

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