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

To: TimF who wrote (483156)	5/25/2009 1:00:09 PM
From: tejek	Read Replies (1) \| Respond to of 1572711

Buying relatively debt in the secondary market at a discount is normal not wrong. Not "getting piggy at the trough" in any negative sense. The secondary market helps support the primary market (initial lenders know that they will likely be able to get something for the debt should it go bad, in many cases). They got piggy at the trough when they were asked to settle: "These investors together hold about $1 billion of Chrysler’s secured debt. The Treasury offered to pay all of Chrysler’s senior lenders $2.25 billion in cash if they forgave most of the company’s debts. Perella Weinberg and the others demanded more, arguing they would receive at least that much, and possibly more, under ordinary bankruptcy proceedings."