Will GM BK Unleash CDS Tsunami?

[trader_arb]

Quote from RiceRocket:

...This whole delaying game is smoke and mirrors. They want it to seem like it was difficult to aquire the bailout. It's a show for the public.

I agree with this, it also gives politicians with agendas time to add their pork/garbage conditionals, simlar to the last bailout.

 

[Daal]

Quote from Cdntrader:

Maybe not for now. But give it a few months.

true. in the case of some kind of restructuring even outside BK it might be considered a default event for the CDS

 

[Cdntrader]

Quote from Daal:

true. in the case of some kind of restructuring even outside BK it might be considered a default event for the CDS

I'm already getting Shelby flashbacks. It would really be something if this vote fails.and the second. and the third...

 

[Cdntrader]

Quote from Cdntrader:

I'm already getting Shelby flashbacks. It would really be something if this vote fails.and the second. and the third...

and here we go again..

Democrats Tone Down Prediction of Automaker Bailout Approval


Dec. 9 (Bloomberg) -- Democratic leaders backed off their prediction that Congress would approve a $15 billion automaker bailout within 48 hours, as Republican objections proved difficult to resolve.

 

[richrf]

Quote from Cdntrader:

and here we go again..

Democrats Tone Down Prediction of Automaker Bailout Approval


Dec. 9 (Bloomberg) -- Democratic leaders backed off their prediction that Congress would approve a $15 billion automaker bailout within 48 hours, as Republican objections proved difficult to resolve.

What a sight that will be if the industry tumbles and millions of people lose their businesses and works because the Republicans only like bailing out banks. I want to watch this one. It would be something to behold.

 

[ekinskofer]

saw this today.. had to share.

 

[Illum]

Grabbed some puts on GM.. not much. Either way stock is garbage most likely. I would grab more if GM ever went to 10. Since its so low, it just felt too much like gambling. It feels like a sure thing... but who knows.

I think if they let GM go, we wont hold lows.

 

[richrf]

Quote from Illum:

Grabbed some puts on GM.. not much. Either way stock is garbage most likely. I would grab more if GM ever went to 10. Since its so low, it just felt too much like gambling. It feels like a sure thing... but who knows.

I think if they let GM go, we wont hold lows.

GM will get the money. But when this comes true, I don't want to get the reputation of being some soothsayer or something. All I have is commonsense.

 

[limit]

This is how this will probably play out. Chrysler is toast, don't know where the pieces will wind up. Ford will survive, with help. GM is too large to fail(don't believe it) but too big to support from now on. They will limp GM along until we get the slightest upturn in the economy then all the gloves come off. After spending almost 20 years around the new car dealer business, GM has it coming...complete arrogance. FWIW, the dealer body costs virtually nothing to maintain, the number of dealers doesn't matter(except to other dealers trying to survive).

 

[Cdntrader]

Quote from Cdntrader:

and here we go again..

Democrats Tone Down Prediction of Automaker Bailout Approval


Dec. 9 (Bloomberg) -- Democratic leaders backed off their prediction that Congress would approve a $15 billion automaker bailout within 48 hours, as Republican objections proved difficult to resolve.

Shelby using same playbook as he did for trying to kill TARP. And GMAC will only further his cause.

GMAC May Not Win Status of Bank Holding Company, Casting Doubt on Survival