HK wrote:
Canuck57 wrote:
"Vic Smith" wrote in message
...
On Wed, 6 May 2009 07:09:17 -0400, "Eisboch"
wrote:


Legitimate secured lenders have as much right to claim the assets as
Fiat
does, regardless of how you may feel about "saving jobs". In fact, any
interference or manipulation of the bankruptcy court's proceedings
by the
Fed may be illegal. This will be interesting to watch.

Yes. The bankruptcy court is bound by limits of law, but the judge
does have some discretion.
He may rule for those that Obama showed disdain for.
We don't want the executive unduly influencing the judiciary,
as has happened in past Presidencies.
Not naming names here.
I wonder if any of the creditors are insured against these losses.
By AIG, or is it AIU, or have they renamed it again.

--Vic

I don't think the judge has much of a choice, bond holders deserve a
better shake.

Why should bond holders deserve better than workers who have been turned
out of their jobs because of the crooks on wall street and in banking?

It's pretty hard to motivate "workers" to do work when there is little
incentive to do so. You know, Socialistic tendencies of collective
bargaining.