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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (484541)	6/3/2009 4:39:29 PM
From: TimF	Read Replies (1) of 1574714

Not exactly. The fix was in just before the BK. Explain. The administration has power over many of creditors, both in its regulatory role, and esp. because many of them are recipients of bailout money. The government at the behest of the unions, created the outlines of a plan where the unions, even though they are junior creditors, would take a smaller hit than the senior creditors, and then it pushed a majority of the creditors to accept that deal. The agreement gets presented to the bankruptcy court, and forms the basis of the judges decision.

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