Quote:
Originally Posted by Dan40
There is nothing in bankruptcy laws that says that bond holders will be the first screwed either. In fact the laws says they are the first to be paid. That sure happened. Not.
How can you believe in ANY benevolence on the part of this power mad administration. Power is their mantra, laws mean nothing to them.
NOT a single thing in any of their 'rush to pass' legislation has preformed as claimed it would. ALWAYS bastardized to increase their power and control.
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The bondholders could have forced a liquidation, but once the assets were distributed they would probably have less than they do now. I am not at all happy as to how that turned out, but I am not surprised either. Obama had favours he owed to unions. Other administrations also owed other groups that were paid up to the detriment of the country. As long as we keep electing people from the same two parties we will continue to get the government we deserve rather than the government we want.
Steve