Well, the day of reckoning w/ GM bonds seems to be approaching. I've sold Ford, GM and FMC, as well as GMAC. I suspect a debt restructuring is fairly imminent and assume litigation/arbitration against advisors is likely.
Anyone heard of advisor's losing personal property in arbitration? Can a client sue me individually in cival court?I suspect judges aren't going to take property/money away from thousands of advisors across the country that sold bonds that defaulted as the economy imploded. We've got defaults and rescues in all corners of the markets right now and so I don't think a judge would hold me personally responsible for GM/Ford but there's still a sense of concern on my part.