Both GM and Chrysler will be restructuring their businesses under bankruptcy protection. After GM announced that it failed to convince bondholders to a debt-swap, the U.S. automaker appears heading towards insolvency. That could mean the federal government will get a 70% ownership stake in a post-chapter 11 General Motors. And Chrysler ended a marathon hearing in bankruptcy court Wednesday as it tries to get approval to sell its assets to Italian automaker Fiat. For the details of how two such large-scale bankruptcies work and what the aftermath could look like, The Takeaway talks to New York Times auto reporter Micheline Maynard and bankruptcy expert John Pottow, Law Professor at University of Michigan.

Some 30,000 people showed up to hear a speech by Mir Hussein Moussavi, a reformist candidate for the Iranian presidency -- and they hadn't been paid, fed or bussed in, tactics used by the incumbent President Mahmoud Ahmedinejad. The supporters showed up mainly thanks to the campaign taking place on Facebook. The social networking tool is rocking the campaign so much that the Iranian government blocked access to it last Saturday; restoring it yesterday. For more on the new campaign tools and an analysis of the Iranian election, we turn to Jon Leyne, the BBC's correspondent in Tehran.

This week President Obama will unveil a much anticipated report on his plans to make the internet secure. He is also likely to name his new cyber-security czar. James Lewis consulted with the administration on this report and he joins The Takeaway to discuss the threats to our cybersecurity. James Lewis is a Senior Fellow at the Center for Strategic and International Studies, where he is director of the center’s Technology and Public Policy Program.

Watch this clip from the 1995 movie Hackers to learn exactly how hackers operate.

We're getting into crunch time for both the NBA and the NHL. It's the conference finals for the NBA, with LeBron James and his Cleveland Cavaliers on the brink of elimination; they trail the Orlando Magic 3-1. Meanwhile, in the Western Conference, the Los Angeles Lakers took a 3 - 2 series lead over the Denver Nuggets last night. Over in the National Hockey League, Detroit and Pittsburgh will open the Stanley Cup finals this Saturday in Detroit. For more we turn to The Takeaway's sports contributor Ibrahim Abdul-Matin.

For more of Ibrahim's thoughts on sports, read his blog post, The NBA Finals: Will Kobe See LeBron There?

Watch Red Wing Darren Helm score last night's game-winning goal in the video below.

It's been 20 years since the classic dance floor jam, Bust a Move, flooded the airwaves and became an instant classic. The Takeaway talks to the song's creator, Young MC, and host Farai Chideya takes on a trip down memory lane to relive a moment in 1989.

Transcript:

Farai Chideya: Alright, you know it. You were wearing those parachute pants and those kinda-like shiny shoes that you thought were so fly. And you know that — especially if you're black — you had some sort of texturizer in your hair. You were listening to Bust A Move by Marvin Young or Young MC. Now this proud papa has a song that is 20 yrs old. That song is old enough to go to the club. Crazy, huh Marvin?

Young MC: Yes, Farai. This song is old enough to go to the club; get in all sorts of trouble.

FC: Definitely. I mean, your song is a classic dance floor jam. And so, I want you, I'm going to call you Marvin or Young or Young MC. Marvin is the name that your friends call you, Young MC is how most of us know you. So Young, take me back to where you were and who you were 20 years ago when this song hit the airwaves. ...(more)

Yesterday, North Korea's official news agency warned of a “powerful military strike” on South Korea if it searched the North’s ships. This came the same day that the North said that it no longer considers itself bound by the terms of the armistice that ended war between the Koreas five decades ago. New York Times reporter Martin Fackler wrote about a dramatic shift in how South Koreans are viewing their northern neighbors. He joins The Takeaway from Seoul.

For more, read Martin Fackler's article, S. Koreans Express Fatigue With a Recalcitrant North, in today's New York Times.

Are modern parents adopting the idea of the child as a noble savage? Slow parenting, free-range parenting, I-don't-give-a-darn parenting -- this new approach is gaining popularity in reaction to the hovering of so-called "helicopter" parents. The basic premise is to leave your kids alone and let them develop at their own pace. Are parents taking pride now in being labeled a bad parent? Lisa Belkin is a contributing writer for The New York Times Magazine and she writes about this new trend in parenting in this weekend's issue.

Want to hear more? Listen to our interviews with Ayelet Waldman and Heather B. Armstrong.

There's yet another chapter in the tale of ousted Illinois Governor Rod Blagojevich and the Senate seat left vacant by Barack Obama. Secretly taped phone conversations between then State Senator Roland Burris and the disgraced former governor's brother were released to the U.S. Senate Ethics Committee yesterday. Burris, now a senator, still claims that he was not involved in any plan to funnel money to Blagojevich in return for the Senate seat. Rob Wildeboer is a reporter for Chicago Public Radio and he has been following the story closely.

Sen. Burris has been making adamant denials of any wrongdoing:

Of the 110 U.S. Supreme Court justices in history, only eleven have been Catholic. But if Judge Sonia Sotomayor is confirmed as the newest member on the bench, there will be six Catholic judges on the bench at once. That begs the question: What does diversity on the Supreme Court mean? Is it about race, religion, or gender? Or should it be about something bigger? The Takeaway talks to Nadine Strossen, the former President of the ACLU who is currently a professor at New York Law School. Also joining the conversation is John Allen, the senior correspondent for the National Catholic Reporter.

With GM likely to declare bankruptcy on June 1st, autoworkers are gearing up for another round of bad news. How are the workers bracing themselves? The Takeaway talks to Will Marcum, who works on full-sized trucks for GM in Pontiac, Michigan.

For more of Will Marcum's thoughts on GM listen to his earlier interviews on The Takeaway.