Citi Vs GM: First to Fail
The thought also occurred in my head this week – “Citi Vs GM: First to Fail?” Before giving myself a hefty slap across the face and a “GM you dumbass!” sardonic response. A fairer question would be “will GM go bankrupt before Citi’s controlling shareholder is the US government?”.
Either way it’s the public who will be getting nasty over this. A lot more of them are gainfully employed in America’s flagship car wreck than in America’s flagship bad loan. Stand by for a surge in social unrest somewhere in the West in the next few years. Events elsewhere will only serve to stoke things further. My bet isn’t entirely against America on this one.
Here’s what the market thinks: