foreclosure

It seems that the Obama Administration is playing hardball with GM and Chrysler. They may force the companies into bankruptcy to protect American taxpayers from having to pony up yet more money for the beleaguered automakers. I see this…

A few months ago, the Germans were very resistant to the notion that Germany would also suffer greatly in this global downturn. Yet, as the months have past, it has become increasingly apparent that exports from Germany and retail spending…

Recently, I was discussing the economy with a lawyer expert in both commercial real estate and taxation, workouts, and bankruptcy. He made a few statements that I felt relevant enough to pass on here.

As you know from reading my blog, I am expecting a lot of writedowns from regional banks as real estate loans sour. In fact, I expect a number of bankruptcies because of defaults in commercial real estate where much exposure is hidden.…

Today, the Seattle Federal Home Loan Bank (FHLB) has admitted that it is on the verge of collapse and may need to avail itself of conservatorship, much as Fannie Mae and Freddie Mac did previously. One should see this announcement as a…

After meetings with lawmakers, Citigroup has agreed to back legislation that would allow bankruptcy judges to alter the amount due on mortgage principal, so called cram downs. As it stands today, all other debtors including corporations…

The Economist does a very good post-mortem on Iceland and its spectacular collapse with a number of lessons for other countries, especially those with oversized financial sectors like Ireland, Switzerland and the U.K.  Below is a snippet…

In a shocking news story, the Wall Street Journal reports that the media company Tribune Company, which publishes the Chicago Tribune, is exploring bankruptcy.  While advertising revenue has contracted significantly, impacting all major…

I have come down on the side of sweeping change when it comes to the banking system in the United States. Basically, I fear a further downward spiral due to the fear and panic that the banking crisis has unleashed. In my view, this…

In direct conflict with the statements in Washington by its Chief Executive Rick Wagoner, the General Motors Board of Directors is willing to consider bankruptcy as one of many options. The Wall Street Journal released a story late last…