The Corner

Hoosiers Strike Back

From WIBC in Indianapolis:

Indiana will no longer invest in bonds issued by banks and automakers who receive federal bailout money.

Bondholders are supposed to be at the head of the line for repayment if a company goes bankrupt. But State Treasurer Richard Mourdock says the government rewrote the rulebook for the Chrysler bankruptcy, leaving investors with 29 cents on the dollar. Mourdock says that cost state investment funds $5.6 million.

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