Reply #1: Pres Obama is all over this already

[FreakinDJ]

The Obama administration is now ordering General Motors Corp.'s creditors to make sacrifices to save the ailing automaker. Yet bondholders of financial companies such as Citigroup Inc. and Bank of America Corp. so far have been mostly left off the hook, even though the government has given the banks billions of dollars in bailout money.

Many those bondholders, in fact, are still profiting from their investments so long as they haven't had to sell, while the rest of us deal with vanishing wealth.

Hussman is among critics who say bank bondholders shouldn't be shielded from all that has gone wrong in the past two years. "When one lends money to a financial institution, one also assumes the risk and responsibility of bearing the losses," Hussman observed.

The White House has been sending out the same message as it turns up the heat on GM's creditors. In addition to forcing CEO Rick Wagoner to resign, Obama administration officials told GM bondholders over the last week they must make concessions or else the automaker will be headed for a bankruptcy reorganization that likely would diminish the value of their holdings.



http://finance.yahoo.com/news/ALL-BUSINESS-Bank-creditors-apf-14850712.html