Thursday, April 30

Obama's takeover of GM



Doesn't look pretty for the bondholders, and legally they were supposed to be paid first. This is a fair bankruptcy?

I'm going to wait for someone who knows what she's talking about, like Megan, to weigh in before I jump to conclusions on this. Because from these numbers it sure looks like Obama's version of assisting GM with "hard choices" is to reward unions for their parasitic, company-destroying behavior with a disproportionate stake in the company.

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