Comments on: Dominoes http://bluecrabboulevard.com/2009/03/30/dominoes-2/ Summum nec metuas diem, nec optes - Marcus Valerius Martialis Tue, 02 Aug 2011 22:27:18 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Andy T http://bluecrabboulevard.com/2009/03/30/dominoes-2/comment-page-1/#comment-81009 Andy T Mon, 30 Mar 2009 23:25:56 +0000 http://bluecrabboulevard.com/?p=12078#comment-81009 I think Obama is an economic illiterate, but on this one he is unfortunately correct. Blind squirrel finding a nut. In a real bankruptcy, the equity would be gone. The unsecured debt and secured debt would work out deals where they got equity in exchange. Pennies on the dollar. The secured creditors have better claims and are entitled to their collateral, assuming it has worth. Thus, his statement is more or less accurate. How would you like to be Ford? You are now effectively competing with the US government. I am sure the US guaranteeing warranties is a violation of the WTO. I think Obama is an economic illiterate, but on this one he is unfortunately correct. Blind squirrel finding a nut. In a real bankruptcy, the equity would be gone. The unsecured debt and secured debt would work out deals where they got equity in exchange. Pennies on the dollar. The secured creditors have better claims and are entitled to their collateral, assuming it has worth. Thus, his statement is more or less accurate.

How would you like to be Ford? You are now effectively competing with the US government. I am sure the US guaranteeing warranties is a violation of the WTO.

]]> By: Hypocrisy: Obama Boots GM CEO but AIG Board Member Named to Obama’s Task Force on Tax Reform … What About the Bank CEO’s? | Scared Monkeys http://bluecrabboulevard.com/2009/03/30/dominoes-2/comment-page-1/#comment-81005 Hypocrisy: Obama Boots GM CEO but AIG Board Member Named to Obama’s Task Force on Tax Reform … What About the Bank CEO’s? | Scared Monkeys Mon, 30 Mar 2009 15:15:42 +0000 http://bluecrabboulevard.com/?p=12078#comment-81005 [...] interference is that the markets will act adversely to such dictatorial power. And on cue, from Blue Crab Boulevard, the Asian markets are down. The S&P stock futures dropped and European shares opened lower as [...] [...] interference is that the markets will act adversely to such dictatorial power. And on cue, from Blue Crab Boulevard, the Asian markets are down. The S&P stock futures dropped and European shares opened lower as [...]

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