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Financial Times: “Private GM bondholders face large losses”

Financial Times article which includes interviews with small bondholders Chris Crowe,  Mark Modica and William Nast

Private GM bondholders face large losses

By Nicole Bullock

“Creditors have better memories than debtors,” says Chris Crowe, an electrician and home inspector from Denver, who stands to lose his son’s college fund on what has turned out to be a poor investment in the bonds of General Motors…..

At last week’s rally, Mark Modica took the podium and said: “I have more than one reason to hope that GM stays out of bankruptcy.” Mr Modica not only holds GM bonds; he is also a manager at a GM dealership.

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By admin – May 18, 2009

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