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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (593852)11/22/2010 3:43:09 AM
From: Tenchusatsu  Read Replies (1) of 1580593
 
Ted, I've always said that GM had to go through bankruptcy.

What I didn't forsee was how the government basically threw moral hazard to the wind and assumed most of GM's outstanding debts.

Now the government is finding new suckers to buy GM stock. Maybe because those sucker investors think GM, being a company "too big to fail," is as safe as Treasury bonds.

Personally I think that a company that once screwed over shareholders and creditors will do it again. It's just a matter of who's holding the bag.

Tenchusatsu
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