Bankruptcy Looms for GM As Bond Holders Agree To Swap Debt For Equity

People fish near the General Motors world headquarters on the eve of a possible GM bankruptcy filing May 31, 2009 in Detroit, Michigan. GM President and CEO Fritz Henderson is expected to make an announcement today in New York concerning his company's future. (Photo by Bill Pugliano/Getty Images)

People fish near the General Motors world headquarters on the eve of a possible GM bankruptcy filing May 31, 2009 in Detroit, Michigan. GM President and CEO Fritz Henderson is expected to make an announcement today in New York concerning his company's future. (Photo by Bill Pugliano/Getty Images)

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