GM today told Congress that it needs an $18 billion bailout.
That's $6 billion, or 50%, more than it said it needed just four weeks ago.
It's hard to tell which is more unstable: the company or its management. The jump in the amount said to be needed to survive so undermines the credibility of GM's executives that only the foolhardy would entrust funds to them -- but then again that describes our elected representatives who, after all, are spending our money and not their own.
And oh, by the way, $4 billion is need before the end of the year -- RIGHT NOW, before anybody has a chance to examine and think very deeply about the lunacy of the whole thing.
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