Former United States Vice President recently disclosed that the GM bankruptcy has long been predicted and the Bush administration had to let it’s time pass before letting the car manufacturer declare a chapter 11.

General Motors has been staying afloat all this time because of financial backing from the federal government until it ultimately needed to file for a bankruptcy last week.

Cheney revealed the matter during an interview with Fox News and said that Bush just did not want to pull the plug on the automaker which has been one of the pillars of the U.S. car industry.

According to him the government knew about the struggle of GM and has foreseen that eventually the carmaker will need to go through bankruptcy and some restructuring and renegotiate their contracts in order to survive.

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Great news from General Motors! They’ve decided to actually produce the Chevrolet Spark and I think it’s a great decision. A fresh-looking, young, new green car — that’s what GM has to do to get out of the slump in my opinioon!

Woopwoop!