bankruptcy

This is a very good explanatory piece from CNBC on how counterparty credit risk makes the credit default swap market a financial weapon of mass destruction.  Note they are not talking about eliminating the CDS market, but merely…

This is a video from Bloomberg Television yesterday. It underscores the fragility of this incipient recovery. You will notice that California is leading the way in terms of foreclosures, one reason the state will 00 bankrupt or be bailed…

You can see this coming.  It is looming and has been for some  time.  Remember that California is the biggest loser in the housing crash and it has one of the highest unemployment rates in the United States.  I have been warning that this…

Last night I received an advance copy of a new book by Wall Street Journal reporter Kate Kelly that gives us a peek inside the last seventy-two hours at Bear Stearns in March 2008.  If you are interested in finance, “Street Fighters” is…

This is a video “discussing whether the Obama administration has intervened too much in business affairs, with Thomas Lauria, White & Case attorney and CNBC's Michelle Caruso-Cabrera.”  As GM has similar circumstances, the case is…

The loss rate here is about 30%, $100 million on $334 million in assets. Here is the FDIC press release: Westsound Bank, Bremerton, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the…

Reuters is reporting that the dissident Chrysler lender group has disbanded. Apparently, the lenders have finally figured out that they have zero chance of getting what they want as I have been saying all along (see posts here and…

As developments in the global auto industry continue apace, it is becoming increasingly evident that Fiat has fashioned itself as a change agent in an industry rife with overcapacity. While eyes in the U.S. are fixed on a Fiat-Chrysler…

This comes via the Washington Post: The New York Times Co. said last night that it is notifying federal authorities of its plans to shut down the Boston Globe, raising the possibility that New England's most storied newspaper could…

A discussion about Chrysler's bankruptcy plan with author Paul Ingrassia, Micheline Maynard, Senior business correspondent for the "New York Times" and John Stoll of "The Wall Street Journal"