Reply #9: It's their fault for pushing Chrysler into bankruptcy

[blue_onyx]

Many of the debtholders were willing to negotiate with Chrysler. Those who weren't, as MI Gov. Granholm said, were being "greedy." Granholm named several of these difficult hedge funds:

Perella Weinberg Partners
Stairway Capital
Oppenheimer Funds

Granholm said:

“I m strongly urging those who are hedge fund managers to ensure that Chrysler is not forced into bankruptcy because they are holding out,” she said. “The hedge funds, those are the ones that have been previously charged with having made a lot of money by flipping paper, they are holding out as we speak–right now. The future of Chrysler is in the hands of some of these hedge funds who want to hold out for a greater profit. So on behalf of Michigan and on behalf of the thousands of people who will be effected if this company were forced into bankruptcy, I am publicly asking these hedge funds to not be greedy.”


I hope the companies who refused to negotiate with Chrysler end up getting screwed now that Chrysler with enter bankruptcy.