bankruptcy

In 2 hours I will be on BBC World News Today talking about the recent government actions involving the auto industry. Afterwards, I will have more to say about this here. In the meantime, here is what Barack Obama had to say.

Dunfermline, the largest uilding society in Scotland was forced into the hands of the Nationwide.  This happened only after the U.K. government was forced to pony up 1.6 billion pounds - not the best of news for Gordon Brown before a major…

This just in from the FDIC. Another Friday night special: Omni National Bank, Atlanta, Georgia, was closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as…

From the Wall Street Journal: In the latest dramatic move by federal authorities to prop up the nation's banking system, regulators late Friday seized control of the two largest wholesale credit unions in the U.S. after finding that…

The large bonuses at AIG have sparked yet another wave of revulsion amongst American taxpeayers. And rightfully so. This company has cost taxpayers $170 billion and counting and yet the bonuses of the same individuals complicit in the…

The goings on down under are not getting that much play in the press outside of Oz. But, Babcock & Brown, Australia's second-largest investment bank has just gone under.

Rohatyn, a Democrat, talks about the role of government in crisis, infrastructure spending and lessons from New York City's near economic collapse n the 1970s from his perspective. Royatyn is widely credited with saving New York City from…

Two more Friday night specials - story via Reuters U.S. regulators closed Security Savings Bank in Henderson, Nevada, and Heritage Community Bank in Glenwood, Illinois, the Federal Deposit Insurance Corporation said on Friday. Heritage,…

Denmark's 11th largest bank, Fionia Bank, has collapsed after massive writedowns of 1.2 billion Danish kroner. However, the company will not face liquidation. According to Politiken, Instead of bankruptcy, Fionia's assets will be…

It is looking like Saab is toast. This comes from Dagens Nyheter, a Swedish daily (note: I originally saw this covered in the Austrian daily Kurier):