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by vinc3nt on June 1st, 2009

vinc3nt

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Is General Motors bankruptcy entirely their fault, or do the financial wizards of Wall Street who made all those bad home loans have any responsibility for the lack of new car buyers? Check this NY Times story.

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  • by vincentcent on June 1st, 2009

    vincentcent

    I think this snippet from the link sums it up nicely.

    "Mr. Wagoner was able to hold on to his job for longer than people expected, as G.M.’s stock fell steadily from about $70 when he took charge at the start of the decade. It closed at 75 cents a share on Friday."

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    • That snippet is true of more than 90% of the stocks in America and the world. The stock fall beginning 2007 for GM parallels that of Pulte Homes, Home Depot, Ford, General Electric, Safeway etc. supporting the view that all are victims of the greed of AIG and Lehman Brothers etc. GM did not have the cash resources to outlast the recession as will others in the near future.
      Not that simple, please try again.

      vinc3nt

      by vinc3nt on June 1st, 2009

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