GM and Chrysler are being sustained by the US taxpapers through bonds.  They are effectively asking the people for load.  Unless Barack Obama goes ahead with his restructuring scheme for the ailing US auto industry, GM and Chrysler are now at the brink of bankruptcy.
GM has been asking its bondholders to swallow a 70% reduction in the value of their bonds and to covert them to shares. Chrysler, in the meantime is hoping to get into partnership with Fiat.
The former pillars of the world’s auto industry are putting their bets that Obama will not allow the industry to go the way of the British auto industry. They need around $28 Billion in rescue loans.   Good luck It’s a sad they if they all go under.  It will be another lesson in MBA classes.