GM has a problem. It's not the cars or the union. GM needs to get it's costs down as required by the govt loan terms. The union has agreed to it's share of the restructuring. Waggoner is now gone. What's left and what's blocking GM's turn-around are the the banks and bondholders. They refuse to … Continue reading Why GM could still go bankrupt: Banks & AIG are the problem
AIG
How did banking get so screwed up?
One of the best articles I've found on how the banking industry & Wall St got so screwed up that they could take down the world's economy. It's very long, but an easy and engaging read - you don't have to be an economist to understand it. Warning to the sensitive: it's from Rolling Stone, … Continue reading How did banking get so screwed up?
EconProph 