Alok Swain

Ignore Detroit's Bondholders' Whines

It is a serious violation of the law to give away the company to junior stake holders such as UAW from the senior stakeholders like the secured creditors.

I find it incredible that the author of this article fails to grasp that.

I hope the courts show more sense than what this administration has shown and especially the presidency.

I wonder if the secured creditholders can be cleaned out in such fashion, where does it leave the unsecured credit holders like for instance the folks who hold the T-Bills, T-Bonds etc. I wonder what fate awaits them. That amount is far larger around $11 trillion worth. What would happen to them, think about it.

I wonder what kind of kind of message it sends in the larger bond market, when the law is subverted by the president who is suppose to to uphold it.