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DRAMATIC DOWNFALL: General Motors files for bankruptcy protection

Published 06/01/2009, Associated Press

UPDATED 12:46 P.M.
General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. It will be the largest industrial bankruptcy in U.S. history and the fourth-largest overall.

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