[Attention Surplus Disorder]

“Maybe Romney should demand that Obama show us General Motors internal financial documents.”

That’s not a bad idea at all.

[nc28205]

>>>"My source inside the White House is warning that the collapse of GM is imminent it is just a matter of if they can hold out until after the election."

This argument that a GM bankruptcy is imminent is ridiculous. First of all, bankruptcies for large industrial companies generally develop over several years, as oppsed to financials which can occur quickly. In the case of GM, people were talking about bankruptcy for several years before the financial crisis finally triggered it. I don't hear "credible" analysts discussing such a possibility in the medium term, let alone within a few months. Second, a review of GM financials shows cash and marketable securities have increased year to date. I don't know the term structure of their long-term debt, but unless they have a large slug of debt coming due soon which they are not able to refinance in what a relativley issuer friendly environnent, there is no reason to think a bankruptcy would happen in the near future.