What remains to be seen is whether GM really can't make it to January 21st without a cash infusion, or whether that was just a negotiating tactic. I tend to think they meant it, but these sorts of pleas are usually exaggerated to get the best possible deal, so it's impossible to know.
This article available online at:
http://www.theatlantic.com/business/archive/2008/12/conspiracy-theory-of-the-week/4470/
