Posted on 06/07/2009 5:06:39 PM PDT by Pride_of_the_Bluegrass
The folks currently suing over the matter bought the paper last year at 43 cents on the dollar and are upset that they are getting only 29 cents in bankruptcy a year later. This is the suit currently in the news.
I own none of this stuff, wouldn't touch it. Other corporates, no problem.
Sure I'd prefer it if creditors were treated better and unions less flattered and appeased as they rob people. But anyone surprised at a lick of it is too naive to be taken seriously.
Grown ups know what to expect buying junk bonds of unionized companies that lose billions in every recession. When they cry over it and pretend it is the end of civilization if they lose a third of what they gambled, pardon me if I don't give a damn.
Wow, so we do agree. Excuse me while I bang my head against the wall in disbelief.
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