Geezus - the current news isn't enough blood-letting for you? You have to
cater to your insatiable appetite for GM bad news by dredging for
Your lust for this stuff is becoming less and less explainable.
No more lust than GM has for taxpayers money I can assure you of that.
But unlike GM I believe it would be mercyful to see them go down fast and
Looks like some share holders wised up and dumped today. Three times the
average volume on GM and down 10.27% for the day, but even fell a little
more on after hours. Tells me somebody knows this big pig is going down.
Looks like in April a lot of insiders dumped 100% of their holdings.Wagoner
isn't listed, he went for the taxpayer funded $20M retirement fund.
With bond holders looking at liquidation to recoupe more of they money, GM
futures look bleak. I guess that is what happens when you steal taxes.
People fail to see that the bigger government gets, the lower the wealth and
lower standards people in the middle class get. It happens slowly, but it
happens. But this time may very well cross the line.
Government and unions can't ignore the contractual pecking order here, bond
holders have first dibs. While they are welching on the debt, trying to
bully bond holders into massive writedowns, the savvy bond holder knows they
can sell of GM to get a good chunk of their money back. And that is what
they plan to do.
If the government backs this rape of a creditor, good luck selling a bond in
corporate USA. Sub-zero be the real credit rating. But I suspect that has
already occured. Becuase there is no liquidity crisis, there is no credit
crisis, there is a debt rating and rate of return crisis. USA isn't paying
it's debts. Canadians are increasing following suit.
Take Ontario, issued bonds twice last month, few takers. They are borrowing
to run government. The biggest debt-welchers are governments. Governments
caused this depression and people are too stupid to see it.
GM must go down, we can't afford to keep the loser afloat.
North America is bankrupt. We be debt-tax slaves here in.
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