Only in America (or should I say, on Wall St.)Submitted by alaney on Thu, 02/26/2009 - 12:16
Talk about magic! General Motors common stock is priced at $2.55 per share. They just lost $9.6 Billion last quarter. That's $15.61 per share of common stock. I'm asking, why is the stock worth anything? Only on Wall St. If you loaned your brother in law $2.55 to start a business, and he comes back and says he's $15.61 in the hole, after just 3 months, would you loan him anymore? With the "magic money machine" in Washington, they'll probably get the loan.