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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (8382)	3/5/2009 10:27:35 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: "GM announces they will not survive, they're in worse condition today" No surprise there! The bond holders are refusing to exchange their bonds for equity... and, without GM's debt being cut by 2/3 by the end of this month, the government is supposed to call it's loans back --- which will immediately trigger a bankruptcy. Bond owners are playing hard-ball --- calculating that they can call the government's bluff and that the government will not force a bankruptcy. (Also gambling that they would not lose much more if a bankruptcy judge was forcing the conversions and debt relinquishment.) Maybe they are right, maybe not, but it is a high stakes gamble.