The news about GM's plan to revalue itself by issuing billions of shares amount to a virtual devaluation of $$$ invested in GM. 1:100. After that a consolidation to bring the share price back to close to what it is now. Read the whole story on Reuters.
I think this is only a forerunner of plans to selectively devalue all public companies who are in financial distress.
The people hardest hit will be share holders in those companies, but they keep the companies viable.
breaking news, page-18
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