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View Diary: Patriot Bankruptcy Puts Retired Miners in Life and Death Struggle (6 comments)

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  •  The bondholders get first dibs. (2+ / 0-)
    Recommended by:
    PatriciaVa, JerryNA

    That is, the people who financed the transaction.

    The fact that this kind of evil chicanery is legal in the U.S. is all you need to know about who runs the politicians who write the laws that allow these companies to pull shit like this.

    See my post, below...

    Calling other DKos members "weenies" is a personal insult and therefore against site rules.

    by Bob Johnson on Tue Jun 11, 2013 at 11:59:55 AM PDT

    [ Parent ]

    •  But federal government can intervene to... (0+ / 0-)

      .upend the customary pecking order.

      It did during the Chrysler bankruptcy.

      And it could have done so here.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

      by PatriciaVa on Tue Jun 11, 2013 at 12:10:43 PM PDT

      [ Parent ]

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