epeon

Fast Money Recap -Will This Be GM's Last Quarter? (5/6/09)

Just out of curiousity, why would the bondholders exchange $27 billion for 10% of the company and the union gets 39% for half of the Veba payment ($10 billion)? I mean, they would have to be braindead to accept that deal (or on TARP which is pretty much the same thing). Secondly, some of the bondholders have CDS on the debt, so they get repaid in the event of a GM bankruptcy. Bankruptcy is inevitable.

Why "Drill, Baby, Drill!" Does Not Translate Into Effective National Energy Policy

Of course, drilling for oil offshore will not solve America's energy problems. We will, according to most of the studies I read, get about 1 million bbl/day. But, it is a good first step and I would sure rather have that $100 million/day flowing to US companies.

In the longrun we will be moving to electric cars. We really don't need an energy plan by the government. First, five year plans almost always don't work. Secondly, the last government energy plan was based on ethanol. We know how that worked.

The market is moving us away from oil as long as oil is at or above $100/bbl. It is going to happen