Bondholders balk…

The GM bondholders have balked,   so it looks like GM is off to bankruptcy court,  where it should have been,  BILLIONS of dollars ago.

Never,  ever underestimate the ability of a Democrat-controlled Congress and an ultra-liberal president to totally screw something up.   Of course, Obama is still  pretending his magical deal will go through and save the labor unions from bankruptcy.    That’s all the auto bailouts have been,  by the way  —  a bailout of the very labor unions who did so much to kill the golden geese.