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GM is going to file chapter 11, so stay away. As for the financials? Citi, BoA and Chase are all insolvent if you strip away the government money and factor in the off balance sheet (level 2 and 3) investment losses. Citi's market cap at .98 a share is nil. BoA and Chase aren't far behind. Chase will have to suck up $41 B in Bear Stearns losses and the WaMu fallout rendering them nil, unless Obama keeps handing out bailout money. BoA and Citi are effectively nationalized already, so why don't we call a spade a spade?
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JGM
2002 Boxster S
1973 911 Green FrankenMeanie
PCA DE Instructor circa '95
Last edited by jmatta; 03-05-2009 at 02:44 PM.
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