Any GM bond or notes are good to buy now?

Quote from tonyzhou:

I want to buy if the price has huge discount.
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there is probably a reason for it..
and probably the government will be first in line, after they give GM bailout money..
 
I think it's like buying a lottery ticket right now. But if you want to go ahead, the easiest to acquire are those sold as preferred stock. There are several such as XGM which is selling for $1.14 (versus $25 par, so about 4 cents on the dollar). The ones that are GMAC, like HGM, will sell for much more as they are more likely to pay out.
 
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