Financial Times piece on GM bankruptcy with notable quote from Chris Crowe, small bondholder from Denver, CO.
GM sinks to fresh low as Chapter 11 looms
By Bernard Simon in Toronto and Nicole Bullock in Philadelphia
“I realise that we all have to make sacrifices, but bondholders have been singled out to lose the most,” Chris Crowe, an electrician from Denver, said at a rally in Philadelphia on Tuesday.
One bondholder held a sign reading: “We are individuals, not institutions,” to distinguish the group from hedge funds that have been criticised by lawmakers for precipitating Chrysler’s bankruptcy.
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