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Politics : Mainstream Politics and Economics
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To: TimF who wrote (50594)8/11/2013 12:01:13 PM
From: sm1th  Read Replies (1) of 85487
 
(look at GM's bankruptcy for instance), but paying out more senior debt first isn't corruption.
Corruption was the Chrysler BK where unsecured union pensions were paid ahead of secured bonds (held by different union pension funds!)
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