Friday, November 20, 2009

It's Not Over Yet

This from Huffington Post Investigative Fund's Christine Spolar and Lagan Sebert

"From Next year "looks like an unavoidable bloodbath for a multitude of 'zombie' borrowers, investors and lenders" and the shakeout could continue for "several years," says a recent report by PriceWaterhouseCoopers and the Urban Land Institute drawn from confidential interviews with industry experts".

Inside The Great American Bubble Machine : Rolling Stone

I may not agree with with all sentiments of this article but this I feel share his sense of anger and outrage.

Inside The Great American Bubble Machine : Rolling Stone

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Monday, November 2, 2009

A look at the top 10 US bankruptcies - BusinessWeek

A most sobering report

CIT Group's filing for Chapter 11 protection is the fifth-largest in U.S. history. Here are the top 10 U.S. bankruptcy filings, based on the companies' most recent annual report before filing for bankruptcy protection, according to BankruptcyData.com.
Company, Bankruptcy Date, Assets
Lehman Brothers Holdings Inc., Sept. 15, 2008, $691.06 billion
Washington Mutual Inc., Sept. 26, 2008, $327.91 billion
WorldCom Inc., July 21, 2002, $103.91 billion
General Motors Corp., June 1, 2009, $91.05 billion-x
CIT Group Inc., Nov. 1, 2009, $71 billion
Enron Corp., Dec. 2, 2001, $65.50 billion
Conseco Inc., Dec. 17, 2002, $61.39 billion
Chrysler LLC, April 30, 2009, $39.30 billion
Thornburg Mortgage Inc., May 1, 2009, $36.52 billion
Pacific Gas and Electric Co., April 6, 2001, $36.15 billion
x-GM listed $91.05 billion in assets in its annual report as of Dec. 31, 2008, but listed $82.29 billion in assets as of March 31, 2009, in its bankruptcy petition.



A look at the top 10 US bankruptcies - BusinessWeek

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