General Motors CEO Fritz Henderson discusses his company's bankruptcy filing and what's next for the automaker with CNBC's Phil LeBeau. LeBeau asks Henderson if this is GM's last chance, to which Henderson responds, "Correct." Henderson explains the enormous $172 billion debt facing the company and how GM will emerge from such a burden to compete with Ford and foreign car companies. But, if sales remain under 10 million units per year for the forseeable future, can General Motors remain viable? And what will it mean to have the federal government looking over GM's shoulder? All questions to be answered once the bankruptcy begins and unravels over the next several months.