I am but a simple minded-idiot...
But it seems to me that the trashing of GM cannot hold good things for the market today. Any company in peril will turtle-up at this point. No more begging for bailouts. No more attempting to ride out the storm. Marginal companies will just file for bankruptcy rather than risk the humiliation of the Obama Inquisition teams.
I am just amazed to see politicians running industry in this country. They can barely run the country. Running private industry is a disaster.