Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: koan who wrote (80703)	6/27/2008 6:09:06 AM
From: John McCarthy	Read Replies (2) of 116555

Hi Koan Hadn't --realized-- that. i.e. walking away ... I know squat about squat - but one of the big fears with GM is this ... (a) I leased their SUV (b) At end of lease - I give it back. (c) Their stuck with a metal box with a NET BOOK VALUE of XYZ but a MARKET_VALUE of _holy chit_ ..... the difference (NET BOOK VALUE - MARKET_VALUE) being a HIT to GMAC finance corp.. i.e. complete writedown .... we could be talking billions .... out their in the not too distant future ... regards, John

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