GM Bankruptcy Thread

If GM and Chrysler go to BK court, does that mean Obama and his minions will let the court do its work or will he keep interfering?
 
Obama's entire cabinet are Wall Streeters. Now he is going along with the idea that GM needs to go into BK wherein they can tear up the union contracts... that is not very socialistic of mr. BO now is it... the guy is a cardboard cutout, they could do away with the teleprompter and just put a tape recorder up there with him....

I've thought that BK would be the best thing that could happen to GM, the former CEO seemed to not have that idea on the table, maybe that's why he had to go.. the new one came right out swinging, talking about BK and all that good stuff.... I want GM around, in spite of what all the Toyotaniks say, GM makes some great cars. I want that new Camaro... 420 hp and handling... dresses up a driveway right nice too...
 
Quote from cashmoney69:

The Govt said its NOT going to let GM fail...does that mean its a RISK fee trade buying GM here at 3?


At least thats the message im getting from the news.
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Yes, thats what it means
 
Quote from DHOHHI:

buying GM at these levels will make you some $$$. Bondholders, UAW and GM mgt. will have to make concessions.
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These two statements contradict each other. The key word is dilution.

Oh, and lol at the idea you need to know how an industry works to trade its stock profitably. The relevant skill to profitable shorting is *short-selling skill*, not skill at making cars or understanding the car industry to the nth degree.

I don't understand the mortgage industry or the banking industry like an insider does, but I was making good money shorting them the last 2 years while the experts were long and wrong and bottom fishing all the way down.
 
And if the media want to create some more hype about the recent multi-week rally in equities, they can claim that the 20% plus rise constitutes a new "bull market".

Quote from Cutten:

These two statements contradict each other. The key word is dilution.

Oh, and lol at the idea you need to know how an industry works to trade its stock profitably. The relevant skill to profitable shorting is *short-selling skill*, not skill at making cars or understanding the car industry to the nth degree.

I don't understand the mortgage industry or the banking industry like an insider does, but I was making good money shorting them the last 2 years while the experts were long and wrong and bottom fishing all the way down.
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