squawk

Zell on Tribune's Bankruptcy: No Way to Avoid It

Remember, given the US Gov't equity funding in "the banks," we, the taxpayers are "the banks."

US Bankruptcy law is designed for the orderly restructuring of debt so that all creditors are treated equitably. Of course, equity holders (i.e. Zell) will be last in line.



On Dec 11 02:46 PM swaps wrote:

> Whole Foods taking out Wild Oats, Zell taking out Tribune.
>
> American capitalism's business plan seems to be a game of musical
> chairs with someone left holding the bag of smelly fish - a mixed
> metaphor I know.
>
> But I agree with the poster above. The banks deserve to be left holding
> this mixed bag of assets after encouraging him to do a zero-down
> deal.
>
> And I bet the original Wild Oats and Tribune shareholders turned
> around and lost 50 percent of their recaptured capital in the recent
> stock market unpleasantness.