feel like I have seen this bad gangster movie before.
In the opening scene, a naive investor buys some bonds, explaining to his staff that they are a sound investment secured by hard assets. Even if the company goes under, the investor explains, bond investors stand to get about 80 percent of their money back.
The next day, a government official calls and offers to buy up the bonds at 33 cents on the dollar, while giving controlling interest in the company to the labor unions. The investor refuses. That night, a man shows up at his home.
"We're not saying anything bad is going to happen to you," the tough says, "but the big boss is going to be very disappointed in you if you don't take the deal. By the way, how's your little girl? Is she still going to school down on Federal Street?" The investor caves.
Chrysler Coup: Like a Bad Mafia Movie
Current Status: Published/No Action (12)
Seeded on Mon May 4, 2009 3:57 PM
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