[Farmer Dean]

GM investors were protected by many years of established bankruptcy law.They got screwed and the union types benefited.Law means nothing in this country now.

[Alberta's Child]

GM investors already knew that they were in a very risky position. Go back and look at the steep discount in the prices of GM corporate bonds in the months and years leading up to the company's collapse. The market had already determined that the company's bonds were officially "junk," which meant they carried an enormous risk by definition.

I'm not saying that what happened with GM was right by any objective measure, but anyone who has dealt with financial matters in major U.S. corporations will tell you that many of these companies are untenable disasters regardless of how they get "fixed."