The economy is getting corn-holed

[redrumloa]

GM shares hit lowest price since Great Depression
http://finance.yahoo.com/news/GM-shares ... 32737.html

Shares of General Motors Corp. plummeted to a low not seen since the days of the Great Depression as hope that the automakers could receive a financial bailout from Congress before the Thanksgiving holiday continued to fade.

In morning trading, GM shares tumbled $1.07, or 38 percent, to $1.72, after slipping to $1.70 earlier in the session.

That marked the company's lowest share price since June 4, 1938, when they fell to $1.69, according to the Center for Research in Security Prices at the University of Chicago. The price is adjusted for splits and other changes.

The Big 3 deserve to go belly up, the management is ridiculously bad. Too bad it will take millions of jobs with it. I was complaining years ago these morons kept making cares nobody wants. $5 gas? Make an even less efficient SUV.

One thing I will say is it is criminal how the bankers get showered with free bailout money, while the Big 3 get nothing. There are no coincidences, gov sucking off the bankers is all part of the scam. When the Big 3 go under, unemployement will hit near Great Depression levels.

 

[Glaucus]

I have no respect for them either, and if it were any other time I'd be cheering on their demise, but with so many failures, having the US auto industry completely gutted would put the US into an irrecoverable collapse. There are so many spin-off industries that would simply die off, entire towns would collapse and the big cities would be swarmed with desperate people. It's just too much suffering and those who are truly at fault will be just fine counting their money on some tropical beach.