Chapter 11 is a rip off of the small investor.

I  own 5000 worthless GM common shares:  GM  declared bankruptcy (Chapter 11) and was reorganized. My GM shares lose their value while GM is back in operation assembling its car models again. The moral of the story is political: You voted for politicians that gave your money away – dummy!  Congress never legislated protection for the middle class investor when a company declares Chapter 11. Your money is taken away and is  added to the bailout money that is given to the ‘fat cats’ who don’t need it!

This scenario is a ‘legal robbery’ called in Wall Street a ‘legitimate risk’ taking for the average investor.


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