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Politics : View from the Center and Left

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To: Cogito who wrote (111825)	5/26/2009 2:56:16 PM
From: TimF	of 541701

Nothing criminal about it, but it certainly goes against the spirit of the law, general bankruptcy principles, and the contracts that had been agreed to. The government overrode all of those to shift wealth from the senior creditors to the politically favored junior creditors. Its not a matter of "what's best for the country", or "what will help make the company a more viable concern in the future", but rather "who has the most political pull. That's hardly a shocking or new thing from government, but its not a good thing either.

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