When President Barack Obama explained in March that his Administra-rntion was bailing out General Motors and Chrysler, he promised that the two battered automakers would "stand on their own, not as wards of the state." He and his team are betting that Chrysler and, likely, GM can use an accelerated bankruptcy process to remake themselves into smaller and nimbler companies that can compete in the global mar -ketplace (and eventually pay back $28 billion-plus in federal loans). The Treasury Dept.'s restructuring plan is creative and comprehensive. Assuming the two car companies do what the government wants them to, they will be much stronger than they were.
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