The Five Dumbest Things on Wall Street This Week

1. Now Hold On, Holding Company

Former GE chief Jack Welch couldn't pull off the acquisition of Honeywell(HON Quote). But could a midget-sized holding company succeed in a bid to buy GE?

Not likely. Yet Ade Ogunjobi, the self-described CEO of the Los Angeles-based company Toks, filed a statement with the Securities and Exchange Commission Monday describing his grandiose plans to buy not only the venerable General Electric (GE Quote), but also General Motors(GM Quote), Hughes Electronics, AT&T(T Quote), AT&T Wireless(AWE Quote), AOL Time Warner(AOL Quote), and Marriott International(MAR Quote) in exchange for $2 trillion in stock and the assumption of all outstanding debt.

The SEC filing, which was rife with misspellings, said synergies between the seven massive U.S. companies could increase total revenues by $300 billion annually. Following its purchases, the report added, Toks might become "the largest U.S. public entity. Or the largest public entity in the world." ...