Originally Posted By: BASAMS The Plumber
The stake is money. The company would be values at x-amount of dollars. The stake they were offered is below the amount they wanted.

Still my major sticking point is that if they were going to file bankruptcy why did we waste billions in the initial bailout? That money is gone, never to return. The bankruptcy should have happened in December.


That was Bush buying some time and leaving options open for the incoming president. He gets points for that in my book.

Fair play!