The Road to Saving GM and the Taxpayer lies through Bankruptcy

"The facts dictate an inconvenient truth: A GM bankruptcy is both inevitable and necessary. Only in an organized Chapter 11 workout can the company restructure both its 43 billion dollars of debt and its labor, dealer and legacy costs that cripple it as a viable competitor. And it is only in bankruptcy that tax dollars can be adequately protected by being the D.I.P. (debtor in possession) lender that ensures our bailout loan has a snowball’s chance in Hades of being returned to the Treasury"