POLITICS
04/30/2009 05:12 am ET Updated May 25, 2011

Hard Line On Auto Aid Puts Bailed-Out Firms On Notice

NEW YORK, March 30 -- After ousting General Motors' chief executive, President Obama warned Monday that bankruptcy may be unavoidable for two American automotive giants.

The administration's display of authority sent U.S. stocks tumbling and raised questions about whether the government would take similar steps against top executives at U.S. banks that are also receiving government bailout funds.

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