[JasonC]

The reason the treasury wants them to take the same payout as the banks and be done with it, is to get the company through all of this as rapidly as possible. The supplier network is dying. It needs a new operating entity paying into it as soon as possible. It is objectively better for all stakeholders combined and for the overall economy. The bondholders particular sectional interest is, as usual, shrinking the whole value trying to grab a marginally thicker slice for themselves, which is exactly what is inefficient about courts compared to straightforward deal making.

[Candor7]

Thicker slice = some control of Chrysler in exchange for their debt. And they will make a case for it in the bankruptcy court.This is why Obama wants them gone, and why he is yellig, carpining and bullying them to resign heir standing. He only wants a socialist agenda for Chrysler.

And I hope the bond holders win that fight.