Ilargi: Hmmmm. It’s starting to look like we're about to see a harbinger moment of sorts, isn't it? I see no indication that the Motown Big Three will get what they want. Flying in on private jets may well be the last nail in the full metal coffin.
A free hand-out now seems to be entirely off the table, and that would leave only the option of a loan. But what could the Three put up as collateral for that loan? For every million dollars a factory might be worth, and that is a big if once the stones start a-falling and a-rolling, there are many millions more in obligations.
Read on...
Peacenik has never seen so much bad financial news as there is today, November 20. Yesterday the DOW closed below 8000 and now there is talk about it going to 6400. GMAC wants to reclassify itself as a bank so it can get financial aid. The North American auto industry is on the verge of disappearing. Banks and Insurance companies are bankrupt but hiding the information from he public. Consumer confidence is at record lows. The people trying to solve the problem....Bernake, Paulson, Harper etc. are flopping around like fish on a dock. There is no plan. There is no leadership. Peacenik thinks Peacenik needs some escapist entertainment.
