Business & Finance

A lot of us unknowingly cheat on our taxes every year.

 On Friday morning (12/5/2008), the Mortgage Bankers Association reported that 10% of all Americans who own mortgages were either delinquent on their payments at the end of September or were facing foreclosures. This is a record high number not seen in recent history and we can all speculate as to why this is the case.

For mighty General Motors, the news could hardly be worse. The nation's biggest automaker said it lost $2.5 billion in the latest quarter as it was slammed by a slowing economy, global credit crisis and the effect of high energy prices.

Bankruptcy a possibility, would be devastating to economy, analysts warn
-MSNBC

Here's some history and why I dont necessary feel bad for GM and Ford:

money.cnn.com — Largest U.S. oil company surges past analyst estimates to post net income of $14.83 billion for 3 months worth of business.