Friday, August 29, 2008

Auto Da Fé

Who will get burned by the conjuncture of rising fuel prices and household debt deflation? The Frankfurter Allgemeine Zeitung reports that some corporate paper issued by GM is now trading at 50% of face.


Robert D Feinman said...

This is nothing new, just look at the NYSE traded preferred:

GPM is selling for $11.40 with a redemption price of $25. If you have guts you can collect about 13% interest with a possible call in 2010, otherwise it matures in 2033.

Peter Dorman said...

It could be old, but I really wanted to use this header.