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This never got that far. The credit concerns forced
the Fed to choose a partner for BS and then indemnify
that partner. I was involved in three of these deals
in the 1987 crash, where my bank washed the credit
until the deals were announced after the market
closed.
There was no choice.
And no, in bankrupcy court, shareholders stand in line
and they are last in line. The emplyees, unless they
have an unusual clause in their contract [think golden
parachute with protection] are at best one step above
that, but generally are at the same level.
Tim Morge
www.marketgeometry.com
--- ketayun <ketayun@xxxxxxxxxxxxx> wrote:
> If BS had gone into Bankruptcy would the employees
> have been better off as in being first creditor?
> Clearly the shareholders lost anyway.
>
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