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  • GM: The Bailout vs. Bankruptcy Meme [View article]
    "I hold GM debt and say, "Full pay till the last day"." - Celrander

    What if "the last day" is sometime in December 2008? One more coupon or 20% of your money back isn't much of a choice, but neither is hoping your bonds are worth what you paid for them. Bondholders in LEH didn't get much for their so-called secured obligations.

    You may wish to reconsider while you still have options.

    Remember that WaMu bondholders didn't get a chance to salvage their "fully performing" bonds before they were shafted either.

    The gub'mint has shown it will change the rules on a whim and anyone who gets in the way can wind up with nothing. Keep that in mind.
    Nov 17 15:22 pm |Rating: 0 0
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