Bankruptcy Lawyer Opens A New Chapter

Full story: The Hartford Courant

Bankruptcy lawyer Matthew A. Feldman of Westport was hired in March to advise the Obama administration's eight-member Presidential Task Force on the Auto Industry, which is led by Treasury Secretary Timothy Geithner .

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Foolishness

Bristol, CT

Judged:

Bankruptcy is a financial tool? What? All the people whom own common stock and all non-secured debt holders loose everthing. This is stealing, not a financial tool. You should be ashamed of your self Mr. Feldman

OMGWTFBBQ

Windsor, CT

I figure what will happen with GM & Chrysler is the court will discharge their retirement obligations.(this happened with Delta airlines)

However, that leaves the US taxpayer with the debt instead. Those pensions are guaranteed thru a Govt agency called "US Pension & Guaranty Trust" (or a similar name I don't quite remember the exact name)

What these companies need to do is live up to their current pension guarantees, but not hand out these benefits to new workers.

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