October 21, 2010
– Comments (8)
Seriously, it boggles my mind every day. Their stock trades at huge volumes daily. Who the hell is buying these from somebody else? They are gonna be 10 trillion debt when this is all through
If it keeps moving maybe nobody will notice...
This is sorta like trading cans of rotten sardines: Works fine until you want something to eat.
GM stock kept rallying for a while even after their own CEO said it was worthless.
I remember that, Chris. I remember the day they announced they were gonna emerge from bankruptcy on the following morning, I bought it knowing some idiots would bid it up. It opened up 38% the next morning and I dumped it. I couldn't believe that worked
Back when Freddie and Fannie were in the Fifty Cent range, I bought as a purely speculative play. Read an article that told me Freddie would post a profit in it's next Qtr.
When they hit $1.50 I sold. This was dangerous, but at that time the Market was on it's head, and I had quite a few companies that I just held my nose and bought.(Think I really wanted Alcoa, Bac and C. Hell no it was just an easy way to buy more of the Co's that I actually believed in)
Why anyone would buy now I have no clue.
These should be taken out back, and put out of their misery.
You are, dude. The American taxpayer now owns 79.2% of these companies, and rising. It is part of QE.
Im not, the gub-mint is forcing me to. But I'm not buying their shares because I have control over that, thankfully
The point is, gub-mint has to acquire its shares on the market same as you and I do as individuals.
If you're an American taxpayer, you are buying. The government is just acting as your agent, same as me and every other American citizen. Sad, isn't it?
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