Monday, July 06, 2009

I WANT MY GM STOCK part deux

I must confess: I was originally against a bankruptcy filing for GM. Having seen how lawyers and other advisers suck the assets out of a company in bankruptcy, (fees in the United Airlines bankruptcy exceeded $600 million) I thought that the cost to the company would probably destroy it.

I was wrong.

We shouldn't have tried to save it. A courtroom process, even with lawyers getting in excess of a billion in fees, would have been far cheaper for the American public.

But I still want Congress to distribute my shares to me.

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