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Politics : Politics for Pros- moderated
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To: Nadine Carroll who wrote (303891)5/5/2009 11:13:05 PM
From: rich evans  Read Replies (1) of 793778
 
This article is fine. Let them take their chances in Bankruptcy court. The basic issue is Chrysler to be reorganizated as a going concern or liquidated. Chrysler is going thru Ch11 to continue as a going concern. This is basic. So the Gov puts in 4.5 bill as dip financing and gets super priority for its funds having lost the privious 15 bill it put in. The company is sold to another undr 363b1 of the bankruptcy code and gets less then 4.5 bill. so the secured bond holders end up with 0. This is the law. Lets follow the law. They may get something if you go for liquidation instead or reorg. But that is not the plan. They should have taken the other deal. Other big players knew the problem and did take the deal. Sale of assets in todays market is noway to recover your money especially when the gov puts up the dip financing of 4.5 bill which could increase. Greed =0
Rich
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