There are many contenders for the most disastrous enterprise in the financial crisis: Fannie Mae and Freddie Mac, Lehman Brothers, Merrill Lynch, AIG etc. For my money (literally, since I am a US taxpayer) it is hard to beat General Motors.
GM is still in intensive care, relentlessly absorbing public money with no obvious end in sight. Banks may be starting to look a bit healthier, but GM keeps on getting sicker. Read more