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

To: i-node who wrote (486474)	6/9/2009 1:05:58 PM
From: tejek	Respond to of 1576121

> What law was violated? Looking for a credible link. Stealing money from the bondholders to give to the UAW. In BK that's permitted so no law was violated. Could you start speaking the truth instead of spreading falsehoods. This entire deal was structured to take money from those who, in good faith, put money into the automakers with an understanding as to debt liquidation preference. That money was to then be given to the UAW for no reason, whatsoever. There were some people who stupidly put money into the deal on good faith.......that would be the pension funds. Then there were hedgies who bought cheap and were hoping that the feds would bail them out. Why do you care what happens to them? The unions have no standing to receive a red cent in this deal. They ought to be damned grateful to escape with some of the jobs. The unions are running GM now.......they had to get something. The UAW, more than anyone else, CAUSED this problem. So why in hell should they receive preferential treatment? Mgmt started this problem. Rick Wagoner was one in a long line of incompetent CEOs. You should be more worried about that then what the unions got out of the deal. Why was one of our largest corps. so poorly managed? Is it typical of most American corps? And do these poorly managed corps reflect a decline in our culture? Those are the important questions and not the nonsense you keep trying to peddle.