GM Bondholders refusing debt-for-equity offer

[PT1]

GM & Chrysler & the UAW are now corporate criminals as they use the US treasury to usurp US Federal Bankruptcy laws and steal the bondholders equity and give it to the UAW. If a private firm tried this they would be prosecuted by the Justice Dapartment under the RICO statuates. I will never again buy a GM or Chrysler product. There is a substitute school teacher in Florida who invested $70,000.00 in GM bonds and was offered stock worth $280.00 for her share.

 

[firemachine69]

PT1: Link to the substitute teacher story?

 

[hone eagle]

Anyone who bought GM bonds since what 2005? Was not well advised,they were junk,most bond holders bought at pennies on the dollar hoping for a windfall. In truth most retirees should of sold years ago .