Under GM's Bankruptcy U.S. To Get 60 Percent Stake
Bush
First  they note that the terms of the proposed GM restructuring are similar to those laid out by the Bush administration in December  when it extended $13.4 billion in loans to GM.
 The Bush administration's loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. The Obama deal requires larger cuts for both sides.
the Bush administration in December  when it extended $13.4 billion in loans to GM.
 The Bush administration's loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. The Obama deal requires larger cuts for both sides.
The Bush administration's loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. The Obama deal requires larger cuts for both sides.
 Administration officials assert moreover that it makes business sense that different creditors are treated differently.
First  they note that the terms of the proposed GM restructuring are similar to those laid out by [TGT] in December  when it extended $13.4 billion in loans to GM.
 [TGT]'s loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. [TGT] requires larger cuts for both sides.
the [TGT] administration in December  when [TGT] extended $13.4 billion in loans to GM.
 [TGT]'s loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. [TGT] requires larger cuts for both sides.
[TGT]'s loan agreement required a 50 percent reduction or "haircut" for the union trust  but a 66 percent cut for the bondholders. [TGT] requires larger cuts for both sides.
 Administration officials assert moreover that [TGT] makes business sense that different creditors are treated differently.