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JP Morgan Analyst: Pre-Packaged Bankruptcy Best Solution for GM

JPMorgan...again the analysts...a few days ago JPMorgan issued a buy rating on GM bonds, today they are talking about a "Pre-packaged Bankruptcy", i.e. the money of the bondholders will be lost. Bondholders invested in good faith. Is this the way to get rid of debt? This is a criminal act with the goverment backing. Either the goverment has the faith in a company , or think from a strategic point of view it's necessary that GM survives ( what I believe)..then help them with a good bridge loan..or..if not...let them fail. However, they should keep in mind...if you let the industry go away...you don't need banks. And last ...the banks which created the mess get a bailout and others like the so called "backbone" get a miss. Taxpayers money is not a free gift to such companies, the companies will pay good interest and at the end they will make money.

GM: Bankruptcy Is No Longer an Option

The Americans are strange people. During the election campain the Dems and Reps said we are too dependent on foreign oil, loose jobs to overseas etc. Now, they are willing to hand-over to auto-industry to the foreign companies? How much did the car-industry in the south pay the Senators representing these States. Loosing around 3 millons jobs,i.e. 3 million individual hardships etc..just because they can't fork out 25-30 billion. How much did the Americans waste in Iraq?
Citibank...of course had nothing to do with the subprime(?), got without submitting a plan, without grilling the CEO, 20 billion plus 300 billion in capital and guarantees over the weekend...strange.
Let the "big 3 fail'..wipe out the value of the shareholder, bondholder get a haircut etc...that's an invitation for investments in the US...No thanks!