General Motors Bailout

apple0154

apple0154

MEOW
I was watching Lou Dobbs last night and his guest was Congressman Thaddeus McCotter.

MCCOTTER: What I'd really like to know, Lou, to have any confidence in the bond holders, is are there bond holders with GM bonds that have credit default swaps with AIG? Because as you know, what happens is, they get par value if you go under bankruptcy. This means in an attempt to get the bond holders to the table, would be futile because they would make out better in bankruptcy and the very workers' tax dollars used to reward them for the effort. I've sent a letter to Geithner. I've sent a letter to Bernanke asking are there bond holders of GM that have credit default swap/insurance with AIG and if so in what amounts? So that as we restructure, we know what everyone has at the table or under it. I've yet to get my response.

My take on that is considering AIG is being government funded to cover any losses then the folks holding GM bonds will be reimbursed if GM goes into bankruptcy. So, while the employees will lose their jobs and pensions/benefits the investors will collect their money as if GM was doing well. All this paid for by tax payers.

Kind of makes one wonder what the hell is going on, huh?

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Here's one of my favorite videos. This guy is pi$$ed off!

http://www.youtube.com/watch?v=pKFKGrmsBDk

BTW, I like the old fashioned wash basin. I have one on my antique bedroom bureau. :-)
 
Whatever happened to Obama's promise of full transparency? I haven't seen any yet.

apple0154 said:
I was watching Lou Dobbs last night and his guest was Congressman Thaddeus McCotter.

MCCOTTER: What I'd really like to know, Lou, to have any confidence in the bond holders, is are there bond holders with GM bonds that have credit default swaps with AIG? Because as you know, what happens is, they get par value if you go under bankruptcy. This means in an attempt to get the bond holders to the table, would be futile because they would make out better in bankruptcy and the very workers' tax dollars used to reward them for the effort. I've sent a letter to Geithner. I've sent a letter to Bernanke asking are there bond holders of GM that have credit default swap/insurance with AIG and if so in what amounts? So that as we restructure, we know what everyone has at the table or under it. I've yet to get my response.

My take on that is considering AIG is being government funded to cover any losses then the folks holding GM bonds will be reimbursed if GM goes into bankruptcy. So, while the employees will lose their jobs and pensions/benefits the investors will collect their money as if GM was doing well. All this paid for by tax payers.

Kind of makes one wonder what the hell is going on, huh?

////////////////////////////////////////////////////////////////////////////////

Here's one of my favorite videos. This guy is pi$$ed off!

http://www.youtube.com/watch?v=pKFKGrmsBDk

BTW, I like the old fashioned wash basin. I have one on my antique bedroom bureau. :-)
Click to expand...
 
Then yo need to look a little closer, it is there, all good things take time!
There is a lot of bad policy to reverse!
 
Maybe I should get my ears and eyes checked, because I have not heard or have I seen any transparency coming from this administration. The are a sneaky bunch. It is my opinion, they don't know what they are doing.

froggie said:
Then yo need to look a little closer, it is there, all good things take time!
There is a lot of bad policy to reverse!
Click to expand...
 
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