President Obama uses New Math in GM Bailout

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Back in the 1960’s there was a time of New Math being taught in the schools. I remember my parents struggling to explain it to my younger brother. The rest of us had to memorize the basic addition and subtraction facts and the Multiplication Tables forward and backwards. My brother was taught the New Math and even had a tutor to help him. My parents were told not to make him learn the basic facts or the Multiplication Tables it would only confuse him. It seems that President Obama has come up with some new math for the GM Bail Out. I was reading an AP story about the Bond Holder now wanting to settle with GM under the president’s plan. According to the story the Government would get 50% control of the company for forgiving $10 billion in debt, the United Auto Workers (UAW) would get 39% control for forgiving $20 billion in debt while the Bond Holders (whom the president and others have called greedy and self centered) would get 10% control for $27 Billion in debt. As I try to understand the New Obama Math it goes something like this: 1. 17.5% of the Debt = 50% Control of the Company 2. 35% of the Debt = 39% Control of the Company 3. 47% of the Debt = 10% Control of the Company It might do the President well to be careful who he is calling greedy.