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

To: tejek who wrote (564362)	5/3/2010 2:54:43 PM
From: i-node	1 Recommendation Read Replies (1) \| Respond to of 1577162

>> That would be the BK judge, not the president. I get the idea this is a subject you don't know much about (big surprise). Bankruptcy judges are powerful people. But the REAL power in a bankruptcy proceeding is the guy who can advance the money to move the company out of Ch.11. In this case that was Obama -- with The Peoples Checkbook. Obama, perhaps the worst negotiator on the planet, somehow was able to wield the power like a pro. He totally controlled the proceedings to get the result he wanted -- down to the debt/equity ratio (he wanted equity capital so GM wouldn't have any f*cking interest payments -- a gift from the taxpayer). GM has a management who is trying to make it look as good as possible, and you can't blame them. But the reality is the USA is stuck with this turkey for the foreseeable future. If anyone DOES buy it they're either idiot suckers or will do so handing the USA a big fat capital loss.