At least our loans will not go to waste, the US government will effectively own GM when all is said and done, which is at least a bit interesting.
I still don't know why the bond holders refused this offer. Sure, it was offering them 37 cents on the dollar, but now they will get much less.
Besides them, those who will truly be fucked are the pensioners, who could potentially go from $50,000 a year pensions to less than $20,000 if GM's pension fund is taken over by the government, which is possible.
1 comment:
GM should just go out. They're real jokes.
Post a Comment