GM and Chrysler Stop Making Cars
GM and Chrysler revealed their rescue plans, which call for the two auto giants to stop making cars and become banks instead. After reviewing the size of the bailouts that the government has offered to the nation's banks, GM chairman Rick Wagoner said, "Only a total loser would keep making cars." The CEOs of GM and Chrysler said that in their first official act as banks they would award themselves $10 million bonuses and fly to the Cayman Islands.
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