DEATHWATCH UPDATE

Holy shit. It's a matter of weeks now. I imagine that all the administration is doing at this point is calculating which will cost less: forking over $20 billion every couple of months or forcing them into Chapter 11 and giving them Debtor-in-Possession (DIP) financing. After all, who in the hell else is going to do it? It's not like there's a private bank willing or able to shovel $40 billion into a furnace.

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