Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (479466)	5/15/2009 4:48:25 AM
From: Joe NYC	2 Recommendations Read Replies (1) of 1573299

Ted, Why won't you answer my questions: Because it is an idiotic question. why do you think the hedge funds are the senior creditors? It is not the holder of the debt, it is the debt instrument itself that is secured. Meaning the contract of this debt instrument is that it is secured by the assets. It does not matter who owns the instrument: Greenpeace, your pension fund, Charles Manson or a hedge fund. You buy the instrument because of of the rights it contractually gives you. Now enter Obama world, where contracts mean nothing. Why don't the unions have senior status as well? Because that is not what the contract says. Were the senior creditors willing to take stock in lieu of cash like the union? LOL. If my legal right is to nothing, I will take 55% of Chrysler stock in lieu of it. Joe

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