Bondholders 'ripped off' in Chrysler/GM workout

The involvement of the US government in the restructuring processes for automakers Chrysler and General Motors highlights the rise of political risk for bondholders.

Bondholders are losing out in the restructuring of failing autos giants Chrysler and General Motors in the US. They are being forced to accept terms described as "abusive" by one analyst as a war of words has broken out between the White House and creditors of the two troubled firms.

President Barack Obama described Chrysler bondhol

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