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

To: tejek who wrote (482879)	5/24/2009 9:16:41 PM
From: TimF	Respond to of 1574054

How did you determine that that's better than what is happening to the senior creditors? Message 25664608 the BK judge has the debtor [Chrysler] come up with a plan Then the creditors vote on the plan. Apparently, the BK plan has been approved. End of story. In this case the government came up with the plan, pushed in on Chrysler, and creditors that where beholden to the government for reasons outside the scope of this bankruptcy (mostly TARP), and then used their votes to ram through special considerations and political favors for the unions rather than following the normal pattern where the senior creditors take a smaller hit.