GM IPO - the ultimate manipulation (almost)

Well there you have it. GM filed the IPO. Just in time for elections. Mr. Obama tried very hard...and though he has absolutely NO understanding of what he is doing or dealing with he will try to milk this for all its worth.

I would like to point out that liquidity is not abundant, and given that backdrop, the nice thing about the IPO is that GM will technically retire its debts including the ones to uncle sam. Would you buy into this scam? Would anyone with a brain buy shares of GM on this IPO? Is GM a good risk? Has management done anything to instill confidence aside from demonstrating that management is NOT committed to its plan or execution of it? One would, in my opinion have to be slightly delusional to want to buy into this IPO...possibly buyers of the KKR IPO might like this one...but those guys don't have much money left.

So, where are they going to raise this kind of money under the pretense of paying back the taxpayer? 

I see only one answer that makes sense or seems plausible, off balance sheet investment firms financed with undisclosed money supplied by the Fed and therefore, ultimately the taxpayer. Bernake might aswell crack open that Maiden Lane holdings vehicle again. The only marginally positive thing about this is that the crew will try like hell to keep the markets from tanking until the last possible moment. The irony is that this whole operation is simply another expression of the same ponzi scheme designed to make it look like there is more money in the system than there actually is.

Way to go Bernake, Geithner, Summers, Obama, Dimon and Wall Street - pay off the tax payer with money from the tax payer and a few other fools you can pick up along the way. However, real payback will not be fun and this effort is fraudulent manipulation designed to influence the elections - so, good luck Washington Street...you are going to need it...the best outcome will be that the deal gets cancelled due to a weak market and that the threat of a liquidity vacuum in the equity markets created by this IPO disrupts the manipulation effort.