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Unread Jun 1st, 2009, 12:26 AM   #1 (permalink)
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Default When did you sell your GM stock?

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Unread Jun 1st, 2009, 09:12 AM   #2 (permalink)
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never owned anything auto industry related, but it was obvious since august of last year that everything is going to hell.
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Unread Jun 1st, 2009, 09:22 AM   #3 (permalink)
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Is this how one expects the market to look like on the morning when the biggest bankruptcy in US was filed? (see attached)
The only true indicator there is the value of USD against Yen.

http://www.bloomberg.com/apps/news?p...KY&refer=homet
Attached Thumbnails
finance_google.jpg  
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Unread Jun 1st, 2009, 04:04 PM   #4 (permalink)
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Be careful with bear market rallies - the entire market is a giant casino now, manipulated by GS and their ilk. The fleecing of sheep continues. Do your due diligence.

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As long as banks stall foreclosures and keep mortgage payers paying at least something towards their loans, the Fed and the Treasury (through the PPIP) can transfer that bad paper from the banks' balance sheets to the taxpayers. Otherwise, once the properties foreclose, the banks are stuck with nonperforming loans (NPLs), that turn their receivable loan assets into nonperforming liabilities. The 19 TARP banks are holding enough of these "legacy assets" to be declared out of compliance in terms of reserves, and, consequently, insolvent.

Most insurance companies hold large amounts of MBS, CMBS, preferred bank stocks and floating rate senior bank notes in their investment portfolios. As banks, like CITI, convert preferred shares, that pay dividends, to common stock shares, that pay very little, insurance companies that held those preferred shares lose cashflow. If the banks are declared insolvent, then these insurance companies will also be declared insolvent.

Public pension plans hold large amounts of corporate bonds in their investment portfolios. Bank bonds make up 25% of the US corporate bond market. Public pensions also hold large stock portfolios. The financial sector now makes up approximately 41 percent of corporate profits. So, if the banks collapse, then the stock market collapses. If bank bonds are allowed to collapse, and the stock market collapses, public pensions, by in large, will have to be paid for by the Federal Government.

The bankers know that race is on. Can the Fed and the Treasury stick the taxpayers with enough of the banks' toxic mortgage paper before that paper becomes a mass of worthless securities collateralized by NPLs? I doubt it. However, if the Fed and Treasury don't succeed, there will be a systemic crash of the US economy, and, not only will Dimon, Lewis and Blankcheck not get their millions in future bonus money, but the values of the their bank stocks could go the way of GM stock. If the Fed and Treasury do succeed in transferring the banks' liabilities to the US taxpayer, the US economy fails anyway, and the US dollar will fail along with it. It almost makes one yearn for the good old days when Paulson threatened us with a derivatives crash. If only it were that simple.
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Unread Jun 1st, 2009, 05:03 PM   #5 (permalink)
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Never bothered with GM. Glad I didn't either
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Unread Jun 1st, 2009, 05:16 PM   #6 (permalink)
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Exclamation *information not enough - how about ACTION*

Quote:
Originally Posted by Legend View Post
Be careful with bear market rallies - the entire market is a giant casino now, manipulated by GS and their ilk. The fleecing of sheep continues. Do your due diligence.
oh god yet another goldman sachs bitching post from legend

mate, what do you expect us to do about it?

What CAN we do? Knowing is definitely the first step, but what next?

If we're all just lowly sheep with no power to change these guys or bring justice to them and their ilk, what difference does it make!
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Unread Jun 1st, 2009, 07:59 PM   #7 (permalink)
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Originally Posted by travelyogatrance View Post
oh god yet another goldman sachs bitching post from legend

mate, what do you expect us to do about it?

What CAN we do? Knowing is definitely the first step, but what next?

If we're all just lowly sheep with no power to change these guys or bring justice to them and their ilk, what difference does it make!
Step 1. Pull money from GS.
Step 2. Buy some precious metal. I bought some American Silver Eagle coins a month ago.
Step 3. Go buy some canned food.
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Unread Jun 1st, 2009, 09:40 PM   #8 (permalink)
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Great news! I really wouldn't expect much of a future from a company stupid enough to think that a Hummer would make great sales among civilian consumers. The only problem with this is that they should have done that back in January and spared taxpayers their money.
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Unread Jun 2nd, 2009, 08:56 AM   #9 (permalink)
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Quote:
Originally Posted by travelyogatrance View Post
oh god yet another goldman sachs bitching post from legend

mate, what do you expect us to do about it?

What CAN we do? Knowing is definitely the first step, but what next?

If we're all just lowly sheep with no power to change these guys or bring justice to them and their ilk, what difference does it make!
Nothing ofcourse. We now get back to your regular programming-
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Unread Jun 2nd, 2009, 02:42 PM   #10 (permalink)
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Quote:
Originally Posted by Legend View Post
Nothing ofcourse. We now get back to your regular programming-
I prefer ij's answer ~
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Unread Jun 2nd, 2009, 10:52 PM   #11 (permalink)
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Quote:
Originally Posted by travelyogatrance View Post
I prefer ij's answer ~
or if you'd like...

strap your seatbelt on and get ready for the ride...

The ride starts somewhere....but somehow always ends up back where it started....
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Unread Jun 4th, 2009, 10:00 AM   #12 (permalink)
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A great comparison of the Great Depression of the 1920's to what is happening today. If you only read one thing, this must be it, for sure.
http://www.oftwominds.com/blogjune09...sion06-09.html
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Unread Jun 4th, 2009, 12:20 PM   #13 (permalink)
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I've got a GM stock, a Chevy Cavalier. Should I sell it?
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Unread Jun 4th, 2009, 05:20 PM   #14 (permalink)
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Quote:
Originally Posted by Trance88 View Post
I've got a GM stock, a Chevy Cavalier. Should I sell it?
No. Sell it when it breaks.
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Unread Jun 9th, 2009, 06:48 PM   #15 (permalink)
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Quote:
Originally Posted by HudsonHawk View Post
never owned anything auto industry related, but it was obvious since august of last year that everything is going to hell.
I don't have anything to do with them, but it's definitely a biGMess.
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