Walmart's New Health Food Push: Is It Too Hard to Swallow?
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
With $13.4 billion of government money already in their pockets from last year, General Motors Corp. (NYSE: GM) and Chrysler are about to get another $7 billion. And this is before they even present their plan for viability. They're not really viable businesses, otherwise they wouldn't need our money. But GM and Chrysler, which face a deadline to present their plan today, are going to get the next $7 billion regardless of whether they meet the deadline.
Why? The choice is simple: Either let GM and Chrysler file for bankruptcy, which would likely add hundreds of thousands to the unemployment ranks, or give them 0.07% of the $10 trillion that we've thrown at the banking system with no Congressional approval since last September. Meanwhile, with the formation of the President's Task Force on Autos (PTFA), there is no way that it could have reached a decision today on the $7 billion loan even if GM and Chrysler met their deadline.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
