If You Own GM Stock, You Have Worthless Papers

Obama calls it sacrifice... I call it being wiped out
By Bill Glynn

This is Economic Rape! We are being wiped out! All your GM stock - whether you are a private citizen, an institutional investor, an autoworker or anyone that invested in GM - you have lost all your money. If you think the portfolio of other stocks you own won't be affected even worse than it already is, think again. Yes, the stock market is up - but it goes up and down every day. Yes, the general economy needed an unprecedented government intervention. But at what cost to the American company itself? We are not investing in these companies - we are borrowing money from the world to invest and loan this money. So we shore up the balance sheets of all these companies while our balance sheet is so upside down we are essentially getting a bailout from the rest of the world. Do you think Clinton and Geithner going to China is a coincidence? [more...]