Obama advisers: GM bondholders need to sacrifice

Newswire

WASHINGTON, March 31 (Reuters) - General Motors' bondholders need to make sacrifices to lay the groundwork for a restructuring of the company that would avoid bankruptcy, a senior White House adviser said on Tuesday. "We've been facing this dynamic with the bondholders in which they've been holding out on some things on the presumption that, well, maybe the government will just keep bailing us out whenever we run out of money," Austan Goolsbee, a member of the White House Council of ...

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