- May 20, 2009
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- 67,644
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When Obama was nationalizing the US auto industry he disrupted the orderly bankruptcy which would have given the senior secured debt holder preferred rights in the eventual reorganization. Instead he dismantled the debt holder as a class and turned the economic benefits they were rightly entitled to receive over to the UAW.
My question is, should US debt holders, that is people that own US Treasury securities get the GM & Chrysler debt holder treatment? And if not, why not?
My question is, should US debt holders, that is people that own US Treasury securities get the GM & Chrysler debt holder treatment? And if not, why not?