Here’s a hot tip : Want to keep companies honest, make the markets work more efficiently and encourage investors to diversify ? Let insiders buy and sell, argues Donald J. Boudreaux (The Wall Street Journal – October 24, 2009). Read more in here >>
Read more...What would the past year have been like if the government had bailed out Lehman Brothers? There's no easy answer. Around every memory of Lehman Brothers' bankruptcy filing one year ago hangs the question: What if Lehman had been saved? Wouldn't we all be better off—and a little less stress-worn—than we are today ? Explorer further in here >>
Read more...A criminal saga that began in December with a string of superlatives — the largest, longest and most widespread Ponzi scheme in history — ended the same way on Monday as Bernard L. Madoff was sentenced to 150 years in prison, the maximum for his crimes.
Mr. Madoff, looking thinner and more haggard than when he pleaded guilty in March, stood impassively as Federal District Judge Denny Chin condemned his crimes as “extraordinarily evil” and imposed a sentence that was three times as long as the federal probation office suggested and more than 10 times as long as defense lawyers had requested. Read more in here >>
Read more...Citigroup announced the finalization of a definitive agreement with the U.S. government on June 10, and accordingly, will now launch its long-awaited exchange offers for its publicly held convertible and non-convertible preferred and "trust" preferred securities. In addition, the government will exchange a portion of its preferred securities - with an aggregate liquidation value of up to $25 billion - for "interim" securities and warrants, and will exchange its remaining preferred securities for trust preferred securities. Read more in here >>
Read more...GM's Chapter 11 filing will be bad news for everyone—except the lawyers, accountants, and paper-pushers who'll make a mint off it.
Who's getting rich billing for the cost of billing?The American system of bankruptcy is quite efficient at handling the disappointment of parties to whom much is owed and little may be coming. Read further in here >>
Read more...This article was written by William J. Holstein, posted at Businessweek.com on May 21, 2009 : President Obama is nearing the most important decision a President has made in modern times regarding the American economy. On or about June 1, he will push General Motors (GM), the nation's largest industrial company, into bankruptcy. The key trigger may be on May 26, when GM's offer to bondholders to accept 10¢ on the dollar fails to win acceptance from 90% of them, a criterion that Obama has set for continued loans to GM. Read the rest of this article in here >>
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