By now everyone who can read or hear should know the GM is going into bankruptcy and will get more funds while doing so.  They, GM, has already got an ad saying that they are just reinventing themselves not disappearing.  That some models will go and some will stay and theat allk is geared to the survival of GM and its future.

Recently I hears CNBC’s “Krazy” Kramer say that the whole thing for GM was nothing more than a massive jobs thing.  And that they would save some jobs, but would not survive too much longer.

Think about what he has said…..I believe he may be right in his assessment.  Basically, all this is doing is saving the jobs of as many workers as possible, because if not the drain on the economy and programs of Michugan would be astronomical.  They are just prolinging the inevitable as long as possible with the hopes that the country’s economy will rebound and better absorb the losses.

Edward Altman of the New York University Stern School Of Business said:

“The bill is now up to $50 billion or more, which is what we said would be needed, but the government should be first in line,” Altman said today on Bloomberg Television. “The government will now have stock in the company, more than 72 percent. It is a big uncertainty if the company will do well. The potential biggest loser, unfortunately, is the U.S. taxpayer.”

Kramer may not be as “Krazy” as he appears.