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Text size [+][-]  Tuesday March 16 2010GLOBAL EDITION

Considered view
12 May 2009 21:18

Scapegoat-herd

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Some fear hedged bondholders will oppose the US government’s deal because they can reap gains on CDS contracts by tipping the carmaker into bankruptcy. But they probably hedged before GM’s trouble became acute – meaning they’re not just opportunistic speculators.

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More stories by:  Dwight Cass






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