Carmakers Squirm While Banks Take the Cash

November 21, 2008 by Mark T. Rafter · Leave a Comment 

The stock market right now is quite a chaotic place.  Much of the volatility is centering about carmakers and why or when or if they will get the hand out filled by more money from the taxpayers and US Govt.

Some people cannot figure out why the banks have been plied with cash but all of sudden everyone in Washington is getting squirrley when it comes to handing over money to GM, Ford, and Chrysler.

My two cents is that this is part of the collateral damage from our economy moving towards financial products and away from manufacturing that has gone on for decades.

I read a book about 6 months ago called “Bad Money” by Kevin Phillips. It discusses this overall credit disaster we are in and the dangerous attitudes and flawed products of psychotic megafinance. Read more