GM Credit Default Swaps

[Hugh Conway]

How much will the US spend to bailout Wall Street when the Big Three default triggering the CDS outstanding?

 

$10 billion?

$25 billion?

$100 billion?

 

Anyone else think this amount will be larger than the initial bailout?

[prole]

“We used to be a car company that sold financing on the side. Now we are a bank that makes cars.” --a finance manager at one of the Big Three automakers

--from Harper's, October 2008