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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (298860)3/30/2009 7:24:01 PM
From: Brian Sullivan3 Recommendations  Read Replies (1) of 794159
 
The good news for me is now my GM bonds are backed up by the US Gov.


I think your delusional on this one Bill.

Everytime I hear them talk about GM on CNBC they say that the government is going to force the GM bondholders to take a major haircut on these bonds.

Something like one share of GM common for every $100 par value in bonds. With GM trading at 2-3 dollars a share your talking a 97% haircut.

Good luck with your GM bonds.

obama@bankruptcy.com
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