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Until your boys came to town, there was no question that senior, secured debt outweighed any unsecured claim. After the "negotiations," in which Oppenheimer was threatened with the government destroying their reputation if they fought the Chrysler settlement in court, senior debt holders have reason to feel uncomfortable. You will also note that the bond market has just about dried up over the past two months, too. Why would anyone buy paper that some bureaucrats in cheap suits can declare are worthless? And remember...the guy who described it as "dealing with the mafia" voted for YOUR comrade, too. He's just a lot smarter now. Get ready for your messiah to announce that we must raise taxes on those making UNDER $250k if we want to pay for his plan to destroy the healthcare system in this country. So go ahead and chuckle all you want too, because they've got their eyes on your wallet, too. (As long as you work, of course. If you're a totally non-productive bum, completely dependent upon the government for your existence, then they love you.)
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