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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (482627)5/23/2009 12:51:45 PM
From: combjelly  Read Replies (2) of 1573907
 
"but the specific relevant case is putting the union, a junior creditor, ahead of the senior creditors in the Chrysler bankruptcy."

That isn't what is happening, though. There is roughly $2 billion in cash that is up for grabs, that goes to the senior creditors. The government is offering to put $30 billion into the new company once it exits BK. That isn't up for grabs and it is a strange argument to claim that it is.

I don't see why taxpayer money should be given to those creditors.
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