Obama's financial plans are not getting any traction on Wall St.
Obama has also announced - White House says supports private banking system.
So, contrary to what we have been reading about and what many have suggested, there will be no nationalization of banks.
Reuters: Wall St slides as bank uncertainty lingers
The Dow Jones industrial average fell 100.28 points, or 1.34 percent, to 7,365.67. The Standard & Poor's 500 Index slid 8.89 points, or 1.14 percent, to 770.05. The Nasdaq Composite Index dipped 1.59 points, or 0.11 percent, at 1,441.23.GM is clearly facing an identity crisis.
The company's stock is about as flat as a pancake. We suspect the Hummer sales might be a tad off...
Yahoo: GM shares hit 74-year low
...$1.82...
1 comment:
GM's day is done. The company is like a huge beached whale. It's an awful sight to behold. To big to get itself off the beach and slowly suffocating. I doubt even the Navy tug ( gov't loans) will be able to do the job. I wouldn't waste a cent on this soon to be sun bleached pile of bones.
I feel sorry for all those people who have worked their whole lives on the line. It's over rover. As for the management, FUCK them, a bunch of arrogant dimwits. You can bet, they'll make damn sure like the vultures they are, they get to eat the carcass and devour the loans as well. We shouldn't expect anything back on this mistake.
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