General Motors filed a request today for entry into bankruptcy in a court in New York.
GM bankruptcy, considered inevitable by the experts, was confirmed by President Barack Obama. It is the third largest bankruptcy in U.S. history and the largest in the industry. The decision to put GM in bankruptcy quickly and to offer further 30 billion U.S. dollars of taxpayers’ money to restructure the company in competition with Asian rivals, is a huge risk for Barack Obama. The more so as this bankruptcy (followed by the closure of 12 factories and the dismissal of over 20,000 employees) supplies “depression” of americans in the confrontation with economic and financial crisis.