Hotscoots
Elio Addict
When a company goes bankruptcy, the debts, including bonds, get washed out. That's the point of bankruptcy. They saved the automotive industry in the United states, which I think was a big deal.
That is not correct . In Chapter 11 bankruptcy restructuring , stock holders "can" lose everything , During Chapter 11 bankruptcy, bondholders stop receiving interest payments, If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds or a combination of stock and bonds. What happened was bond holders lost value and the UAW ( which promised to vote for Obama) received a 17% stake in the reorganized company . People should go to jail .