The Market On Monday

No one was expecting the market to stay up this week.

Futures are down and the alleged trouble is GM and Chrysler. The "trouble" could have been any one of a number of things but the auto industry is the chosen flavor of the day.

Obama has rejected GM's restructuring plans, wants better plans, has ejected GM CEO Wagoner, and is pulling the punches. This has affected stocks globally with markets down worldwide.

Don't worry though, the rich are doing just fine.

The financial giant Goldman Sachs spent tens of millions of dollars to bail out two senior executives last fall who were short on cash, according to the bank’s proxy statement filed on Friday source

Reuters: GM,Chrysler rocked by Obama autos team hard line

The Obama administration pledged only to fund GM's operations for the next 60 days while it develops a sweeping restructuring plan, instead of granting GM's request for up to a further $16 billion in loans.

Reuters: U.S. stock futures signal losses on automaker woes

On the positive side, U.S. President Barack Obama said in an interview published on Sunday that he saw "glimmers of stabilization" in some areas of the U.S. economy, including pockets of the domestic housing market.