“forcing holders of PG&E’s $18-billion debt to take a “big principal haircut.”
They mean “steal”. This is why I told my financial investment advisor “no bonds”. If GM bondholders weren’t safe then no one is safe.
L
“If GM bondholders weren’t safe then no one is safe.”
MILLIONS are still thinking that when a bank personage says “ It’s guaranteed by the FDIC “ or something like — ‘Your money is gtd by the FDIC or PBGC for this pension plan’ that they are - home free-
Anyone recall the FSLIC ?
YOU’RE Screwed folks !
No haircut in this game.
More like decapitation for the shareholders, evisceration for bondholders and the ratepayers will be placed on the wheel.
Unions? They get a free lunch and paid vacation.
The same playbook as the BIG AUTO BAILOUT.