Monday, November 10, 2008

Jim Cramer: GM Really Is Too Big to Fail

Here’s another reason why GM can’t fail as pointed out by the Mad Money’s Jim Cramer: the U.S. financial system “is riddled with GM [and] GMAC paper.” GM’s bankruptcy would lead to a meltdown in the trust of the U.S. financial system.

Not only are GM’s bonds everywhere, how many people own GM stock without even knowing it in or out of their retirement accounts?

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