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Click here to visit the new home of Politics Daily!Maine Republican Susan Collins introduced a measure in the Senate Tuesday to restrict federal funds for at least 18 czars appointed by President Obama unless they agree to testify before Congress and provide a public report about their specific roles in the administration. ...
From the Guardian: The US government would be handed a controlling stake of more than 50% in General Motors under a last-ditch restructuring proposal outlined by the cash-strapped carmaker in an effort to avert filing for bankruptcy. Today, GM proposed a massive debt-for-equity swap to refinance its $62bn debts. It warned that unless its lenders agree to the deal, it will be obliged to declare itself bankrupt, leaving the courts to intercede. Under the deal, the government and unions would get a combined stake of 89% in the company through an issuance of new stock, with bondholders taking a ...
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