Timeline for Democratic governments seizing financial assets during financial crisis?
Current License: CC BY-SA 3.0
9 events
| when toggle format | what | by | license | comment | |
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| Apr 24, 2013 at 0:15 | comment | added | DJClayworth | Let's also not forget that the GM bondholders always had the ability to decline the offer. This wasn't a compulsory deal. | |
| Apr 24, 2013 at 0:13 | comment | added | DJClayworth | I've seen no evidence it wasn't for ALL workers. In any case, what you wrote substantially misrepresented the facts. | |
| Apr 23, 2013 at 21:50 | comment | added | user4012 | @DJClayworth - bad example, incidentally. More money for American people=>more tax revenue>more money for the American Government :)... Seriously, it's a benefit for UNION workers, not just "workers". And this has absolutely nothing to do with the substance of the fact, that basic bancruptcy rules were severely violated by treating some unsecured debt different from another, for political reasons. | |
| Apr 23, 2013 at 21:18 | comment | added | DJClayworth | So it's for the benefit of the workers, not the union. You seemed to be implying that the money was for the benefit of the union itself. That's a big difference - as big as the difference between "more money for the American People" and "more money for the American Government" | |
| Apr 23, 2013 at 18:23 | comment | added | user4012 | @DJClayworth - The trust is still part of the union, for the benefit of union members. The distinction you are making is technically correct, but I don't see how it's meaningful in this context - it benefits ALL union members who are retired now or will retire later and will be paid for their expenses out of that trust. | |
| Apr 23, 2013 at 17:05 | comment | added | DJClayworth | Just to be clear it wasn't the union that got the preferential treatment, but a fund, administered by the union, used to provide medical benefits to retired workers. That's a big difference. | |
| Apr 22, 2013 at 14:19 | comment | added | user4012 | @user357320 - you're quite right. Actually someone made a parallel between WaMu and Cyprus: openmarket.org/2013/03/20/… | |
| Apr 22, 2013 at 13:57 | comment | added | Karlth | Not from me! Thanks for suggestion, I had forgotten about GM. Also wasn't something similar at Washington Mutual? | |
| Apr 21, 2013 at 20:17 | history | answered | user4012 | CC BY-SA 3.0 |