Bank views GM shares as worthless

If you have been following the hedge-fund numbers, thinking the state of the U.S. economy couldn't get any grimmer, shift your gaze to the U.S. automotive industry and you will be proven wrong. Deutsche Bank has downgraded General Motors Corp. to sell from hold, with a price target of $0. The bank predicts the car maker will struggle to fund its U.S. operations beyond December, unless there is a government intervention.

"Without government assistance, we believe that GM's collapse would be inevitable, and that it would precipitate systemic risk that would be difficult to overcome for automakers, suppliers, retailer, and sectors of the U.S. economy," the broker said. 

For more:
- read the MarketWatch article

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