http://www.allamericangold.com/
Main Street takes a hit in GM bankruptcy
The loser in a General Motors Corp. bankruptcy would be Main Street, not Wall Street, said a lawyer who represented Chrysler LLCs dissident lenders and is trying to organize bondholders who hold up to $7 billion in GMs debt. Whats being offered is the U.S.-backed plan to give the American and Canadian governments as much as 69 percent of the equity and a 17.5 percent trust for unions, while bondholders only get 10%. GM plans to file for bankruptcy on June 1, people familiar with the matter said. The difference with GM is that, whereas the bad guys in Chrysler were hedge funds, who Obama called speculators, here theyre Main Street — individual retirees who bought bonds when bankruptcy was unthinkable.
Duration : 0:10:31
GM should have gone …
GM should have gone bankrupt so that the profitable brands could continue making money. Now Cadillac and Chevrolet are going to have to carry the rest of GM on their back. Besides that, Chevrolet is seeing it’s image destroyed by branding GM’s Korean cars as Chevrolet (specially in Europe).
Meanwhile GM sells off their profitable European branch, Opel. Go figure…
I want to know why …
I want to know why we didn’t impeach both Bush and Omama? They have both committed High Treason, according to the U. S. Constitution.
Yeah they called gm …
Yeah they called gm going under a long time ago.
Awesome, thanks
Awesome, thanks