Outside advisers to the U.S. Treasury have started lining up the largest bankruptcy loan ever, Imagine that! Their talking with banks and other lenders about at least $40 billion in financing for General Motors Corp (GM) and Chrysler LLC, in case the two auto makers need it. Please let them fail, we need to start to heal on our own! Now those clowns have told authorities in Canada that they need as much as Can$10bn (US$8bn) in aid to stay afloat, more than double their estimate three months ago. Obama and his US Government’s new motor industry task force met for the first time on Friday to consider (GM) and Chrysler’s latest funding requests. Seriously “Great One” enough of the insanity!
Futures are pointing higher, Gold is down 15 to 988 and oil is sitting at $40.20. For more on the open read Wall Street Breakfast.
