I recall that market madness. After GM filed for C

I recall that market madness. After GM filed for Chapter 11 re-org, US taxpayers bought the assets and a New GM was formed. The old GM -- with no assets, huge debts, bankrupt and worthless -- traded on the pink sheets. Despite repeated reminders from the SEC and GM itself that the old stock had no connection whatever to the New GM, it still traded millions of shares a day above a dollar.