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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (482623)	5/21/2009 8:16:11 PM
From: tejek	Read Replies (2) \| Respond to of 1573900

Bondholders are supposed to be at the head of the line for repayment if a company goes bankrupt. But State Treasurer Richard Mourdock says the government rewrote the rulebook for the Chrysler bankruptcy, leaving investors with 29 cents on the dollar. Mourdock says that cost state investment funds $5.6 million. It wasn't the gov't; it was the BK judge. The investors turned down the gov't offer.

To: TimF who wrote (482623)	5/21/2009 11:02:09 PM
From: Joe NYC	Respond to of 1573900

Indiana will no longer invest in bonds issued by banks and automakers who receive federal bailout money. Bondholders are supposed to be at the head of the line for repayment if a company goes bankrupt. But State Treasurer Richard Mourdock says the government rewrote the rulebook for the Chrysler bankruptcy, leaving investors with 29 cents on the dollar. Mourdock says that cost state investment funds $5.6 million. Wow! I wonder if the Obama Poison Pill will spread from automakers, TARP bank issued bonds to the US Treasuries themselves. The back-up plan has got to be the printing press, then hyper-inflation. I hope there is someone at the wheel that recognizes the risk the Chrysler deal poses and corrects the course... Joe