[Perfectlap]

I don't think any of the three auto makers will close shop. Ford will make it, Chrysler (I have an inside track on that one) will be acquired and no President will ever allow GM to fail under his watch, certainly not a pro-Labor Dem. But the chapter 11 route is almost 99.9% certain, they're pretty far into their plans for that. They're just trying to figure out how to ****************-can the least amount of people but the layoffs will be huge.

To make matters worse, credit is not budging and oil is absolutely into its quiet recovery.

p.s.
STAY AWAY from those financials if you are an investor. Going long troubled companies in a protracted bear market is EXACTLY what the short sellers want you to do. I see another 30% decline for the big banks. We've still got 80% of the 09 bank failures to come. Which will of course heavily favor the survivors who are now getting murdered. Like cockaroaches in a nuclear winter.