Posted on 05/27/2009 1:42:04 PM PDT by Kartographer
General Motors bondholders felt they deserved something like a 58 percent stake in the company in exchange for their billions of dollars in debt. What they were offered wasn't even close.
(Excerpt) Read more at news.yahoo.com ...
The Obama has destroyed anyones faith in investing in the country if you ask me. Anyone smart anyway.
I find it fascinating that the UAW is voting on an employement contract that can be nulified in bankruptcy.
The bond holders are right on this one.
Looks like we’ll have a few more threats coming from the White House. Assuming Hussein doesn’t simply ignore the law completely!
The Chrysler bondholders all buckled when Obama called them names. Let’s hope the GM bondholders have a little more mettle.
The Tbill market tanked this last 5 days..steep today.
The market followed.
Maybe the little rally is over in stocks and it is time to take a long summer vacation.
There are far far more bond holders for GM than chrysler.
GM is a public traded co.
Chrysler was private and there were only 5 or so.
You can only be a schoolyard bully for a limited amount of time.
Event the rest of the world is calling Obama a paper tiger.
GM should have gone into bankruptcy last year.
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