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11/19/2020 12:16:17 PM
 
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Section 4: President & Congress Subject: Stimulus Payments We Received Msg# 1104299
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So you were one of the losers in GM preferred stock?? Sorry to hear that. Hope that you were diversified, with a variety of other solid performers to weather that GM storm.
The factor I was critical of was the wiping out of bond holders. One school teacher had her $70,000 investment in GM bonds drop to $200 value. Click Here As you perhaps know, the bond holders should contractually be the most secure investment -- the last class of investors to lose money. But Obama ran roughshod over those rights. And yes he preserved the union's financial resources. Big gripes from the financial & legal communities. |
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For reference, the above message is a reply to a message where: We respected Obama's bailing out the US car mfg. industry. But criticized the details of how he did that. I believe he primarily bailed out GM. Took my GM preferred stock holdings and gave the money to the unions. |
