hoffman23

GMAC: Why the Bond-Exchange Silence?

Let me correct you. I think it is now Plan M,N,O,P. The bondholders can continue to play hardball because they know there is no line in the sand. But, if they take it a little too far, they will screw up the GM bridge loans and have less than nothing. Having tax losses in a year where you lose money doesn't do you any good.