GMAC: Why the Bond-Exchange Silence? [View article]
The deal is done. Clearly the bondholders didn't stump up enough so the Fed came up with $5B + $1B to be invested through GM. It's preferred shares with an 8% div which isn't nearly enough of a deal. Rip-off city again. I'd guess the markets will love this one tomorrow.
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Dec 29 21:57 pm
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All Comments by ss01 »GMAC: Why the Bond-Exchange Silence? [View article]
The deal is done. Clearly the bondholders didn't stump up enough so the Fed came up with $5B + $1B to be invested through GM. It's preferred shares with an 8% div which isn't nearly enough of a deal. Rip-off city again. I'd guess the markets will love this one tomorrow.