Son of a bitch, the GM rep testifying on cspan makes me want to slap him. hard.
Posted by
Max
Nov 19 '08, 11:46
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Congressman: How soon are you going to run out of money?
GM: Soon.
Congressman: No, when? How much money do you have and how long will it last?
GM: Hard to say. That depends on our suppliers.
Congressman: Okay, try this the other way: How much money would you need to make it to March 31?
GM: Quite a bit.
Congressman: BUT HOW MUCH? Someone in accounting must know the figures.
GM: Well we've talked about this $25B bridge loan...
Congressman: That's for 3 companies. I want to know you, how much money does GM need?
GM: If we look at the $25B and base it on our market share, that would be about $13B.
Congressman: I don't know what the hell you just said. What's your worst case scenario?
(repeat)
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