who cares who is bk. bad or ugly news will not impact upon the market any more. it is fuel to fire market up.
in todays crazy market, even microsoft goes BK, the market will fly higher. that is the reality of craziness.
just look at all news or data, plunging housing sell, ugly jobless#, mega gov't or national debt, closing manufactring, dying auto industry, tons of toxic assets in our "too big to fall" banks, high-paid jobs being replaced with "burger king-type" salaries, many states are in or near BK... you name it, too long to list here.
so what! the market up Up and UP. banks or financials have jumped 200-500% in 2-3months ONLY. we are not in teh 2nd worst depression, we are in century-booming economy!
so, amrket will be green. more GM-like BK, market will go higher and higher till everybody has a nice job in McDonald. Nice! at least, you will feel hungery.
Go "too big to fall" banks...GO up Up and UP, even UPPPPP!
I don't agree DOW closed above 8500 on Friday meaning a huge rally this week into the high 8000s or low 9000s. GM bk is already priced into the market plus the markets love bad news they go higher every time.