by Calculated Risk on 5/21/2009 10:28:00 PM

From the WaPo: U.S. to Steer GM Toward Bankruptcy

The Obama administration is preparing to send General Motors into bankruptcy next week under a plan that would give the automaker tens of billions of dollars more in public financing ...

The move comes as the administration prepares to lift the nation's other faltering car company, Chrysler, from bankruptcy as soon as next week ...

That is fast!