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  • Fast Money Recap -Will This Be GM's Last Quarter? (5/6/09) [View article]
    Just out of curiousity, why would the bondholders exchange $27 billion for 10% of the company and the union gets 39% for half of the Veba payment ($10 billion)? I mean, they would have to be braindead to accept that deal (or on TARP which is pretty much the same thing). Secondly, some of the bondholders have CDS on the debt, so they get repaid in the event of a GM bankruptcy. Bankruptcy is inevitable.
    May 07 09:51 am |Rating: +2 0 |Link to Comment
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