The Washington Times - November 21, 2008, 08:33AM

President-elect Barack Obama is suggesting a “prepackaged” bankruptcy for Detroit automakers as an alternative to an outright bailout, Bloomberg is reporting.

A prepackaged deal would allow the bankruptcy to become final in six to 12 months instead of years.

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It sounds like one of those “special” financing deals that a car salesman has to discuss with his manager in the back room. Hope they include the undercoating.