GM CEO Rick Wagoner to Rep. Gwen Moore: "We at GM have a very significant collateral pool that has not been pledged yet, including overseas subsidiaries and trademarks, which we could use for first-lien collateral." (HT: 1-2).
Bank Of America To Celebrate Only Being Liable For $40 Billion (And Counting!) Worth Of Countrywide Slip-Ups
A couple dozen more of these $1.27 billion wins and this whole thing might not look like the worst business deal in history after all!