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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (203627)5/22/2009 9:09:54 AM
From: The ReaperRead Replies (1) | Respond to of 306849
 
<Under the draft bankruptcy plan for GM, the company would receive just short of $30 billion in additional federal loans, the report said, but added that the figure is a starting point in negotiations and could change>

Crap, that number keeps going up. It's also comforting to know that the figure is just a starting point. Dollar getting trashed yet again.



To: Travis_Bickle who wrote (203627)5/22/2009 10:56:17 AM
From: Jim McMannisRespond to of 306849
 
Government knows it's on the hook for the pensions so they decided to give it to them up front and screw everyone else.



To: Travis_Bickle who wrote (203627)5/22/2009 12:35:42 PM
From: John KoligmanRead Replies (1) | Respond to of 306849
 
I'm under the impression that the government loans to Chrysler were recently 'forgiven'. If that happens with GM, they already received at least 15 billion, another 30 gets it closer to 50B, and GMAC has also gotten additional billions. I don't know much about bankruptcy law, but if these loans are provided as part of the bankruptcy package, are they any less likely to be 'forgiven'?

John


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