From Fear to Greed, Banks Jostle for GM Deal

When the Obama administration sent General Motors into bankruptcy last summer, the automaker wiped out creditors, and critics warned that Wall Street investors would have a long memory. What a difference a year makes. Now the biggest names on Wall Street, including Goldman Sachs Group Inc GS, JPMorgan Chase & Co JPM and Morgan Stanley MS, have lined up for the chance to help bring a government-owned automaker back to the public market -- for a pittance. The 0.75% underwriting fee on the GM IPO is among the smallest, percentage-wise, of the top 10 IPOs of all time, globally, according to Thomson Reuters data. But even so, bankers, keen to secure future business with GM GM.UL and secure bragging rights, are jostling for a spot on a deal that will mark GM's historic rebirth as a public company. To read the rest, head over to FOX Business.