BREAKING: Bank of America to buy GM!

Charlotte, NC - Bank of America will take over GM at request of the US government. When asked, Ken Lewis, CEO of Bank of America stated, “We think that GM will be a good strategic fit for Bank of America. Along with our forced acquisitions of Countrywide and Merrill Lynch we feel that this positions the company for excellent future growth prospects. We further expect this acquisition to be earnings accretive by mid-2010″

Lewis also stated, ” I used to work on my own 69 Chevy Camaro back in college, so I think that I am well positioned to integrate GM into Bank of America.”

- h/t Lee Adler, The Wall Street Examiner

(too funny!)

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couldn't do no worse!

I have a funny feeling Geithner thinks an air filter is a party hat and I strongly suspect Obama thinks an intake manifold gasket is some sort of fund for various special interests who claim to be community organizers...oh wait...wouldn't he fund that?

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Air Filters = Aluminum Foil Hats?

Alright, I confess to being a conspiracy theorist. When I read your earlier post, and especially the back and forth in the comments with JV, I had a thought.

No lie, I thought one of these banks will end up buying GM. Fair disclosure, does it matter that I didn't know which one or that it would happen so soon? Anyway, if you believe we are moving inevitably to an oligarchic state then why not? Undoubtedly, there are plenty of people in GMAC who are friendly with the whoevers in BofA, as well as the other American financial icons. It is truly a club of special elites.

What's the over/under on buying up big Pharma? Bill Greider's worst fears are happening before our eyes. In his words, our fate rests with:

Trying to imagine alternatives to the bankers-first bailouts is a good place to start. What follows are suggestions I produced at the request of young people organizing demonstrations around the country for April 11. They call themselves A New Way Forward. I hope they light lots of bonfires.

I couldn't agree more with Bill. This is the moment of decision and we can't afford to just stand on the sidelines anymore.

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commongood you might want to

Write up this comment as a blog post, with complete details of the physical protests. I strongly suspect many EP readers will want to sign up and join these protests if they know about them. I can also tell you EP readers are not the same readers of the blogs you mention. We have a much more non-partisan financial type of reader, so this would reach people who really haven't heard of this.

You might also let people know what kind of changes these organizers want.

While EP is all econ, all of the time, that assuredly includes politics, policy when it comes to economics so this is perfectly ok.

We are the Populists after all!

Also, the link in the quote is broken.

No BoA will never take over GM, regardless of the corporate screw up and so on, I don't think BoA is interested in anything that makes real products, assets. ;)

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I will pursue this more.

It is very easy to be critical of the administration's policies. The internet is full of that, including a lot of good comments right here. I sense that the ultimate question is "what do we do now?"

It's regrettable that the link did not work. It is in Greider's original piece and I tried to reinsert the link in the block quote. I want to repeat the link here.

We are facing long odds in overturning the establishment, but submission has serious, detrimental consequences.

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