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Bankruptcy

: Credit Slips

Let the Canadians Run It

By Stephen Lubben

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The Financial Times mentions that Senator Alexander has proposed distributing the U.S. Treasury's stake in reorganized GM to taxpayers.  After we all receive our 0.0000003% stake in GM (talk about separation of ownership and control), the Canadians and the UAW will be the controlling shareholders.

I'm not sure the Senator has thought this all the way through.

(and, yes, I know that not every American is a "taxpayer," but you get the point).

Full post as published by Credit Slips on June 03, 2009 (boomark / email).

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