GE says everything’s fine, just fine, thanks for asking, as the stock drops off a cliff. The problem is their finance unit, which threatens to turn the entire company into smoking rubble.
Those bothersome auditors say GM is circling the drain, how thoughtful of them to awaken from their slumbers long enough to notice what financial bloggers have been saying for months.
Citigroup drops below $1 a share, was world’s largest bank. They were born in subprime, and subprime is the trigger that cratered them. Thousands of their own workers have or will lose jobs because of the piggish greed of those who run the company.
You forgot the part about FDIC saying its insurance fund could go broke before year end… The Dow losing another 4%… 12% of Americans either behind on mortages or in foreclosure. Heck, it’s enough to bring “disaster chic” mainstream!