The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Bank Holding Company who wrote (265578)	8/1/2010 6:59:00 PM
From: The Reaper	Read Replies (1) of 306849

The GM shareholders got taken out and shot. The federal govt bailed them out and life goes on. Isn't that how the system is supposed to work? The problem is that the bondholders got taken out and shot as well when there were other solutions available than a government takeover. Other entities could have come in and reorganized GM and Chrylser. That is how the system is supposed to work after everybody takes a haircut. The way the government did it, everybody took a beheading except the UAW. A normal bankruptcy according to bankruptcy law would have required the UAW to suffer as well with renegotiated contracts, but Obama can't have that.

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