Contributing to the Dow’s 7 percent cratering today (next in the Holmesian series – “The Bear of the Wall Streeters”), S&P’s Ratings Service put GM under review. Ford is also on negative credit watch.
BUT... for all the gloom and doom, it was just five years ago that the market was last below 9,000.
This is NOT a repeat of the Great Depression, except in the Chicken Little level of financiers.
But, at the same time, it shows that Congress’ $25 mil in guaranteed loans to the Big Three is probably sand being pounded down a rathole.
No comments:
Post a Comment
Your comments are appreciated, as is at least a modicum of politeness.
Comments are moderated, so yours may not appear immediately.
Due to various forms of spamming, comments with professional websites, not your personal website or blog, may be rejected.