I call this "mliu top"
Insanity and stupidity reached absolutely high. Are people in US still thinking?
We rallied on the news that GDP shrinked the most in 50 years. Now we rallying 30 minute before Obama announce Chrysler go into chapter 11. We rallied weeks after weeks of 600k people losing jobs. And we focused on corps beat the earnings by cost cutting even though the revenue were way down.
It is not cost cutting, it is lay offs. Too much lies, too much idiocrcy. It is not going to end well.
The Chrysler Bankruptcy will be way worse than LEH bankruptcy. Why, cause this one is not just the number in the banks going down. This will bring immediate change in at least 1 million people's everyday life. GM and Chrysler shared many suppliers. This bk might bring many to their knees. Pray to God that I am wrong.
Obama can shed out trillions to save the banks with no strings attached. Even the banksters are paying them big bonus and salarys. But they simply don't want to do much for auto industry. He served well to those financed him.