I’m not sure if this is real, or some sort of ploy to get money from Paulson, but this is very scary:

General Motors Corp., seeking federal aid to avoid collapse, said it may not have enough cash to keep operating this year and will fall “significantly short” of the amount needed by the end of June unless the auto market improves or it raises more capital.

I’m so glad that I’m not in a position to make a call on this.