Small GM Bondholders: Deal Will Wipe Us Out

[Topazman12]

Yet, the Government gave bailout money to the big 3. And the Executives get $1 million payment each. What about the bondholders? Why don't they get the bailout money?

[ohdaysoo]

We have to get rid of the mentality that all investors are the super rich on Wall Street.

Remember the UAW complaining that the bondholders didn't make more sacrifices?

These are some of those investors.

[mymacca1]

II am an elderly lady who will lose my IRA from this. I am alone and now disabled.

A Smith Barney "advisor" bought a GM bond with my IRA pension funds at 104.91 on the dollar.. $105,000 worth.. By the time I knew I had it...it was down $20,000.

His advice? "well I can sell at a loss, or you can use the interest as retirement income. "

So I had $7,500 income for three years. I was able to pay my property taxes and auto insurance. Dear God, I wish I had not voted for Obama .

[kasdri]

The situation in this country is depressing God bless Israel and america.

[camron722]

im the chris crowes son and i hope this will make a point

[Roonskii]

Goodmorning, welcome to walmart!

[loveandanarchy1111]

This make me so mad, these corporate criminals should be horse whipped. Let's tare down the gates of the rich and take back the wealth that belongs to all the people. Why are we putting so many poor people in jail, then acting like it is hard working peoples fault if they a swindled by a corporate criminal. I was raised by a 1st generation immigrant and was told the American dream is not for just a few, but for all people who are willing to work for there dreams, what crap we have been fed....

[fenderstratguy]

Tearing down someone's house will land you in jail. This problem started years ago, when GM's short-sighted management caved in to a powerful UAW union's ransome demands -- GM promised them gold-plated health care for life if only they would not strike. This promise has come to haunt them. Try to understand the real problem here. It is bad management and a greedy union.

[trs6070]

As politely as possible I say the following: Your perceptions are terribly incorrect. This problem was brought on by President Obama who dictated how much these bondholders would receive...pennies on the dollar. GM would not be in this situation if it weren't for the union imposed high labor costs and government intervention into the environmental restraints imposed on the production standards. This has nothing to do with corporate criminals and everything to do with governenment interventio

[loveandanarchy1111]

Good to hear what others think.

[kasdri]

Totally agree with you ,, moving to canada in august , wish me luck.

[jokerbookshop]

this is why i invest in gold and silver.

[biggerflexible]

No sympathy for the GM scum.

[chewbaca1989]

Screwed blued and tattooed.

Now you know better, what a scam.

The Government shafting the little guy.

[KhmerD0g]

treasury bonds will be worthless too. welcome to the future for many americans. it will get ugly.

[fucksatanism]

Too fucking bad.

[arequipa1]

i feel bad for these people. :(