Motors Liquidation Company (fka MTLQQ)

[MrBankRoll]

Obama says he won't let U.S. auto industry 'simply vanish'

By Robert Schroeder

Last update: 11:08 a.m. EDT March 30, 2009

WASHINGTON (MarketWatch) -- President Barack Obama said Monday his administration will not let the U.S. auto industry 'simply vanish' and is giving both Chrysler and General Motors more time to submit viable restructuring plans. But he said bankruptcy is an option for both companies. Shares of GM were recently off 25%.

http://www.marketwatch.com/news/story/Obama-says-he-wont-let/story.aspx?guid=%7BE7088539%2DD934%2D4394%2D8CF7%2D1F3AC739C8F5%7D