• 30 Apr 2009 at 11:26 AM

Breaking: TARP Complicates Bankruptcy (Who Knew?)

By Equity Private

Maria Bartiromo is reporting that a number of Chrysler’s non-TARP senior bondholders are precluded from conducting direct talks with the government at all.
That is entertaining.
Developing.

Comments (13)

  1. 1
    Posted by guest | April 30, 2009 at 11:40 AM

    I haven’t had this much fun since I rented “Chooch”.

  2. 2
    Posted by guest | April 30, 2009 at 11:42 AM

    So we’re just abandoning the whole “first-in-line” concept in this country? Awesome. That ought to open the spigots on lending.

  3. 3
    Posted by sugardaddy | April 30, 2009 at 11:49 AM

    Chrysler to be saved…stocks rally,
    Chrysler to bankruptcy…stocks rally,
    End of contract law…stocks rally

  4. 4
    Posted by guest | April 30, 2009 at 12:02 PM

    @2 – nice attitude. It’s a new age. It’s not about who comes first or who works hard. It’s about who DESERVES what.
    All those billionaire bondholders don’t need that money. They should give it to the hard-working American autoworkers.
    How long have you hated America?

  5. 5
    Posted by guest | April 30, 2009 at 12:03 PM

    @2 – nice attitude. It’s a new age. It’s not about who comes first or who works hard. It’s about who DESERVES what.
    All those billionaire bondholders don’t need that money. They should give it to the hard-working American autoworkers.
    How long have you hated America?

  6. 6
    Posted by guest | April 30, 2009 at 12:07 PM

    Someone needs to tell the morons on CNBC that there ARE NO BONDS at Chrysler. Just senior secured loans. No bonds.

  7. 7
    Posted by Investorcluzo | April 30, 2009 at 12:07 PM

    @4 – correct. who knew we could rally in the face of -6% gdp? shorts/bears/nay-sayers be damned!

  8. 8
    Posted by guest | April 30, 2009 at 12:10 PM

    Chrysler eulogy on now!

  9. 9
    Posted by guest | April 30, 2009 at 12:11 PM

    @7 um…this is Obama’s America: “senior secured loans” are the new subordinated debt.

  10. 10
    Posted by guest | April 30, 2009 at 12:12 PM

    By the way, suppliers and dealers had better start greasing the lobbyist engine:
    “the court process will be used to extinguish some contracts and to thin the company’s dealership body.”

  11. 11
    Posted by Investorcluzo | April 30, 2009 at 12:16 PM

    cue the pitchforks and torches…hedge funds and investment managers are now being targeted by the 1600 Pennsylvania Ave

  12. 12
    Posted by guest | April 30, 2009 at 1:15 PM

    What will be, will be, but at least it is not the government continuing to throw taxpayer dollars at sinking ship…

  13. 13
    Posted by guest | April 30, 2009 at 2:37 PM

    The dollar inflates. . . .stocks rally*
    The dollar inflates . . . . stocks rally*
    The Obama printing press prints more greenbacks . . . stocks rally*
    *Stocks have only rallied in USD. Stocks are in the tank when translated to other currencies.

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