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Old 04-17-2009, 04:47 AM
 
Location: Unperson Everyman Land
28,984 posts, read 18,998,551 times
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For all the carping about past mistakes and miscalculations by previous office holders and greedy business executives leading us to the economic situation in which we now find ourselves, the Obama Administration seems Hell-bent to go on their own poorly planned misadventures. After apparently having missed the language that allowed executives at companies receiving TARP funds to receive bonuses as before, Should they not be more careful in their dealings with the US auto industry?

"U.S. Rep. Thaddeus McCotter has asked the U.S. Treasury Department and Federal Reserve whether holders of General Motors bonds have credit default swaps with American International Group."

Michigan Messenger McCotter: Do GM bondholders have credit-default swaps? (http://michiganmessenger.com/16658/mccotter-do-gm-bondholders-have-credit-default-swaps - broken link)
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