In a discussion of the present subject, I disagree.
The credit markets froze, if I understand it correctly, because nobody could figure out what the value of the other guy's assets were. Propagating that condition, as Mr. Forbes proposes to do, seems to me to be exactly the opposite of helpful.
Would you extend a loan to someone who's pledged $100 million in assets, when you don't know if those assets are actually GM shares valued using a one year rolling average?
Neither would anybody else.
One of the reasons the credit markets froze was the hoarding of cash to meet government reserve requirements. I'll bet the same mechanism is hurting GM, too.