It is obviously a coincidence that this comes out on the day of the announcement of GM’s bankruptcy.
The turning over of GM to the UAW at the expense of the bondholder’s is a shameful act founded on nothing more than raw political power. No contract is safe anymore. What other rights will we lose in the coming years?
Um, GM declared bankruptcy. That means relief from debt, which is what bondholders hold.
I’m not sure what contract law, bankruptcy court, or the issuance of corporate debt has to with our “rights,” since the Constitution doesn’t say anything about bankruptcy, contracts, debt instruments or unions.
What about contracts the auto manufacturers had with the unions? My understanding is that the Big Guys haven’t felt themselves bound by those for a generation or more…
pschearer Premium Member over 15 years ago
It is obviously a coincidence that this comes out on the day of the announcement of GM’s bankruptcy.
The turning over of GM to the UAW at the expense of the bondholder’s is a shameful act founded on nothing more than raw political power. No contract is safe anymore. What other rights will we lose in the coming years?
gludaman over 15 years ago
His son’s 580K was in GM stocks & bonds
longtimecomicsfan over 15 years ago
Um, GM declared bankruptcy. That means relief from debt, which is what bondholders hold.
I’m not sure what contract law, bankruptcy court, or the issuance of corporate debt has to with our “rights,” since the Constitution doesn’t say anything about bankruptcy, contracts, debt instruments or unions.
fritzoid Premium Member over 15 years ago
What about contracts the auto manufacturers had with the unions? My understanding is that the Big Guys haven’t felt themselves bound by those for a generation or more…