They're a bunch of numbskulls who fails to understand that paying high salaries to people who produce nothing
You have that spot on! They're a bunch of numbskulls who fails to understand that paying high salaries to people who produce nothing but increase value where none exists such as derivatives, they have lost all sense of constraint and equity. We're again back at square one, and our government will continue to bailout the same banks that got us into trouble in the first round.
History does repeat itself.
But analysts doubted the debt exchange offer would succeed, setting up GM to restructure under bankruptcy protection.
I think the bondholders could balk on going along
We should let the banks go bankrupt, and let the government take over all the banks. They will never learn responsibility nor equity, because they think they "create" wealth from nothing.
okie, Go away; you don't know what in hell you're talking about.