08-02-2010, 10:26 PM
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#25
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Drives: 2016 Mazda6, 2011 Mustang 5.0
Join Date: Mar 2010
Location: Portage, Wisconsin
Posts: 4,049
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Quote:
Originally Posted by Captain Awesome
I'm no market expert, but I doubt any serious investor is going to look twice at a GM stock offering. This last time GM got in trouble all of the secured creditors got nothing and the unsecured creditors got everything. This is in complete violation of the bankruptcy laws.
Breaking it down, people with investments in the company (like old folks investing their retirement, or working stiffs with 401k's) who are required by law to be first in line in bankruptcy proceedings got robbed of everything. It was handed over to a bunch of unsecured creditors (unions).
What makes you think that it won't happen the next time?
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 That too.
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