Did Obama ever pay back the GM bond holders?

Did Obama ever pay back the GM bond holders?

Postby whistler16 » Wed Mar 23, 2011 8:11 pm

url_not_allowed.wsj.com/article/SB124105303238271343.html

The biggest losers here are GM's bondholders. According the Treasury-GM debt-for-equity swap announced Monday, GM has $27.2 billion in unsecured bonds owned by the public. These are owned by mutual funds, pension funds, hedge funds and retail investors who bought them directly through their brokers. Under Monday's offer, they would exchange their $27.2 billion in bonds for 10% of the stock of the restructured GM. This could amount to less than five cents on the dollar.
whistler16
 
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Did Obama ever pay back the GM bond holders?

Postby warner34 » Wed Mar 23, 2011 8:12 pm

url_not_allowed.wsj.com/article/SB124105303238271343.html

The biggest losers here are GM's bondholders. According the Treasury-GM debt-for-equity swap announced Monday, GM has $27.2 billion in unsecured bonds owned by the public. These are owned by mutual funds, pension funds, hedge funds and retail investors who bought them directly through their brokers. Under Monday's offer, they would exchange their $27.2 billion in bonds for 10% of the stock of the restructured GM. This could amount to less than five cents on the dollar.
i think you're mixed up. GM needs to pays back the government for the bonds the feds purchased. it might happen. we have to wait to see what happens.
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