Levin 'convinced' Obama hasn't decided on bankruptcy

Rep. Sander Levin (D-Mich.) claimed Monday that he's "convinced" the Obama administration has not made any decisions to force GM and Chrysler into bankrupytcy, despite indications that the government and the companies are bracing for such a scenario.

"I'm convinced of that," Levin said on Bloomberg News when asked if the administration had made up its mind.

"They've made clear as to Chrysler that it's essential that Fiat and Chrysler make some sort of decision," he said. "As for GM, there's never been a decision that it must go into bankruptcy."

Levin also denied that the companies and Michigan workers are bracing for an eventual bankruptcy, emphasizing the preference by the companies and southeast Michigan lawmakers that the companies be allowed to restructure outside bankruptcy.

"They're not asking too much in this sense: there has to be continued restructuring," Levin explained. "There has to be some further major restructuring, and everyone has to be at the table."

Watch a video of Levin's interview here.