C.. wow...

[scriabinop23]

Thought the line was in the sand with these giant banks... Wonder what the CDS damage on C would be. I can only assume it would be epic.

This bear market already beats the 73-74.

Looks like the great depression coming, and the fed is not printing money fast enough.

 

[rc5781]

you can thank the physicists....

they gave us the threat of nuclear winter and now this....

we need to kill all the physicists and then we can work on the lawyers....

 

[Stosh]

Heard some comments on Kudlow's show that C might be hurt in the possible event of a GM bankruptcy.....but haven't heard anything definite. Might just be a rumor. Stosh

 

[blackbook]

what is the connection with C and GM?

 

[Stosh]

I don't have any news about it.....but if there is a connection I suppose it might be loan commitments.

 

[swtrader]

Quote from Stosh:

Heard some comments on Kudlow's show that C might be hurt in the possible event of a GM bankruptcy.....but haven't heard anything definite. Might just be a rumor. Stosh

i dont know about c

but there's a shitload of GM and ford paper somewhere......

 

[Stok]

Quote from swtrader:

i dont know about c

but there's a shitload of GM and ford paper somewhere......

There is $202 BILLION in debt between the both of them....dat's a lot of paper on someone's books!!

 

[brokerboy]

Quote from Stok:

There is $202 BILLION in debt between the both of them....dat's a lot of paper on someone's books!!

seems like alot are you sure? they are not even worth 5% of that.

 

[swtrader]

Quote from brokerboy:

seems like alot are you sure? they are not even worth 5% of that.

i dont know how much is on there now, but i looked at ford's ballance sheet about 5 years ago

it was unbelievable how much debt...

 

[Stok]

Quote from brokerboy:

seems like alot are you sure? they are not even worth 5% of that.

Yup...per yahoo finance:

F total debt is $157B
GM total debt is $45B

Now, lets take out cash in the bank:

F has $27B in cash, and $157B in debt, for net debt of $130B
GM has $16B cash, $45B in debt, so net debt is $29B.

How about net debt PER SHARE (to show how f*cked they are):

F has $54 net debt PER SHARE! ($130B net debt divided by 2.4B S/O).
GM has $48 net debt PER SHARE($29B divided by 635M S/O).

There is NO WAY these companies can survive and whoever is holding all this debt is screwed!