Industry watcher Jim “ Buickman” Dollinger believes a cabal of international financiers is driving GM into bankruptcy so they can buy it up for “cents on the dollar,â€? according to a report by TTAC. He asks questions such as: why would GM’s Board let CEO Rick Wagoner to create a bankruptcy-proof pension if, as he claims, “we don’t have a plan for bankruptcy?â€? Why did Merrill Lynch immediately buy GM’s abandoned Fiat stock, given that Merrill’s CEO also serves on GM’s Board? The Leftlane Perspective: Buickman might be a little overzealous with his assertions, but one must wonder who might have their sights on GM as its value continues to fall.
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