how can this happen?


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Posted by mannyc on Wednesday, April 29, 2009 at 16:48:43 :

In Reply to: Obama Said to Plan for Chrysler Bankruptcy, Alliance posted by Joe Cimoch on Wednesday, April 29, 2009 at 16:22:36 :

where in the actual legal world of corporate finance that secured debtors get paid after union retiree health care trust funds? I wonder if the new 55% owners of the company gave up 71% of their claim like the bond holders are being forced to do. 25% goes to the govt and 20% goes to fiat? WTF.



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