There Was A Point During The 2008 Global Financial Crisis When Mega Auto Manufacturers Were Just As Important As Banks | Exploring Markets

There Was A Point During The 2008 Global Financial Crisis When Mega Auto Manufacturers Were Just As Important As Banks

With the focus off the financials, the world's attention will now turn to Ford , GM and Chrysler because those are the Main Street equivalents of Morgan Stanley , Wachovia and Citigroup . They all need rescuing or government support, according to both analyst reports and the pricing of their bonds. We have strong banks now that can absorb weak banks, we have banks no longer on the critical list, but all we have with the motors companies is some lower oil prices that haven't done much yet to jump-start sales. The problem with all three of these is that they are investment pariahs that have to be kept alive because there are too many jobs at stake and too many states at stake. They have to be merged or receive stakes in them the way that the banks just got stakes.