GM? CIT Group? I'm sure there are other examples where they eliminated the owners. Even Capital trusts weren't safe there, either. I can see a situation where they hand equity in the new company to the bond holders and leave everybody else out in the cold. I didn't think it would happen with GM and CIT either, which is why I held on till the end. Going to do the same with LEH and I sure hope the outcome will be different. Don't say it's not a possibility, though.
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