Quote:
Originally Posted by Jimellow
If General Motors would be entered in to the above stated "bankruptcy process" would all shareholder stock effectively become worthless,...
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If you look at GM's balance sheet, in 2006 they had total assets of $186 billion. They had total liabilities of $191 billion. Shareholder equity was negative $5 billion, or the company was worthless to stockholders. 2007 it was worse, negative $37 billion, and 2008 it was worse again at negative $86 billion. Only fools and speculators hold investments in GM. Yes, I do think the folks in Washington are fools for putting money into GM.