An awful lot of GM shares have already changed hands today. If you knew that the government was going to bail out the Auto Industry, you could’ve bought shares of GM yesterday at $3.66 and sold them today for $4.30 — a 17% profit overnight. Someone knew, that someone just wasn’t you: just yesterday signs pointed to Big Three bankruptcy.(“Now” is Friday, December 19, 2008 at 9:48 Eastern) GM probably got about $8B in short-term financing this morning. I have no idea what the terms are, or what the interest rate is, although I can say with 100% certainty that this rate is far lower than GM could otherwise obtain, which means that nobody was willing to voluntarily lend them the money. Additionally, the people from whom this money … Read entire article »