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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (482876)5/24/2009 9:13:00 PM
From: TimF  Read Replies (1) of 1572678
 
.you left this part of the article out of your post.

I posted short excepts from multiple articles and posts.

.the part where the senior creditors were getting piggy at the trough

Buying relatively debt in the secondary market at a discount is normal not wrong. Not "getting piggy at the trough" in any negative sense. The secondary market helps support the primary market (initial lenders know that they will likely be able to get something for the debt should it go bad, in many cases).

Then when the bankruptcy negotiations come around holding out for a smaller hit than the junior creditors is normal and should be expected. It would even be considered a fiduciary obligation of those running the funds that hold the debt.
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