Obama puts US in driver’s seat as GM enters bankruptcy, planning huge job and dealer cuts

WASHINGTON — In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation’s economic muscle.

Obama pushes GM into bankruptcy, commits additional $30 billion to help company

WASHINGTON — President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges.

Obama says both GM and Chrysler will survive current financial convulsions, will prosper

WASHINGTON — President Barack Obama is defending the government’s intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers.