http://www.radiodujour.com/peo…..ndex.shtml

The full text of the motion filed with the court is here, and it is a MUST READ:

http://rawstory.com/news/2008/….._1217.html

Meanwhile the “neo-Confederate” take on this whole thing is more and more being called what it is:

The Economic Civil War

In the early 20th century, the Southern states were the first to adopt conscious statewide economic development policies, which then as now meant poaching industries from New England and the Midwest where wages and public spending and regulation were greater. That’s how the South took the textile industry from New England, before losing it to lower-wage Asia.

Lind, refering to the New Deal as a Second Reconstruction of the South, calls for a Third one that levels the labor market, public services, and regulatory playing field between the neo-Union (once again!) and neo-Confederacy up, as the only way to avoid ending this turn of the screw with only the gang of Corkers in the South (he doesn’t say it, but also those up-South who get compensated out of derivatives slush funds and the like) better off, and ordinary Americans everywhere much worse off.

One developing problem in the auto makers’ pursuit of government rescue funds is the state of Chrysler’s collateral. Unlike GM, which has assets it can pledge or use as collateral for a federal loan, Cerberus is believed to have pledged all of Chrysler’s assets in the summer of 2007 as security for $10 billion in bank debt.

Emphasis mine. There’s where TARP could be used; Treasury “rescues” the bank(s) holding the debt in exchange for equity. Treasury does likewise with any outstanding paper on GM, then “comingles” the assets into a new venture.

It doesn’t include my husband’s company as an equipment supplier, for example.

Gah.

Bob in HI

Not a Good Sign: Cerberus Reopens Talks to Merge Chrysler With GM

Emphasis on the delaying effect, no doubt.

pdaly — and a big one, or should I say bundle of them, expires the next day.

I checked the Jan 2009 options calendar:

Looks like several calls expire the previous week:
Thurs 1/15/09: “A.M. settled index options cease trading”

Fri 1/16/09: “expiring equity, P.M. settled index options and treasury/interest rate option classes cease trading. Expiring cash-settled options cease trading at 12pm EST.”

Saturday 1/17/09: “Equity, index, cash-settled currency and treasury/interest rate option expiration date”
(footnote: “Equity LEAPS expire in January. Index LEAPS expire in December or January”)
And Monday Jan 19, 2009 is “Exchange holiday”

The calendar points back to the theory that GM and the other autos failure in January may bring good tidings to investors waiting and praying for the auto failure.