Bankrupt Banking

Latest News for: Bankrupt banking

Global Economy / Watch out for risks from post-Lehman U.S. tech dominance

The Japan News 23 Sep 2018

investment bank Lehman Brothers went bankrupt, sending shock waves across the globe ... The crisis was followed by a credit crunch due to banks’ capital and funding shortfalls, making it difficult for companies to finance their business ... — a symbol of American manufacturing — was restructured with a government bailout after it went bankrupt in 2009....

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Specters and Speculators: The People Buying Haunted Homes

Caixin Online 22 Sep 2018

(Sixth Tone) — On the outskirts of Nanjing, there’s a three-story villa with a dark past and a low price tag ... When Zhang’s business failed, he mortgaged the villa to the bank. But when Zhang went bankrupt and defaulted on his loan, the bank auctioned off his villa, seemingly reinforcing the belief that haunted homes bring bad luck ... “It was a big sum of money back then when banks would only give very small mortgages,” Xu said ... Editor ... ....

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Boris Becker's estranged wife Lily 'calls him Satan' as tennis star makes cryptic post about 'walking away from the drama' as their lawyers battle over planned divorce

This is Money 21 Sep 2018

The former tennis star looked deep in thought as he arrived for the court hearing yesterday ... It came after Becker was declared bankrupt last year when it emerged he had racked up a debt of £3.3million with a private bank ... It comes after a difficult year for Becker, who was declared bankrupt due to huge debts ... It helped ... He was declared bankrupt in June 2017 by Registrar Christine Derrett, who recalled watching him play on Centre Court ... ....

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Boris Becker and his estranged wife Lilly arrive at divorce court amid long-running battle over their planned split

This is Money 21 Sep 2018

It came after Becker was declared bankrupt last year when it emerged he had racked up a debt of £3.3million with a private bank ... The former tennis star looked deep in thought as he arrived for the court hearing yesterday ... ....

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Central Banks Have Gone Rogue, Putting Us All at Risk

truthout 21 Sep 2018

Excluding institutions such as Blackrock and Vanguard, which are composed of multiple investors, the largest single players in global equity markets are now thought to be central banks themselves ... A central bank dedicated to the service of the public could act as an unlimited source of liquidity for a system of public banks, eliminating bank runs since the central bank cannot go bankrupt ... It is time to curb central bank independence....

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Crisis After Crisis: 10 Years After the Crash, There’s No ‘Reforming’ Global Capitalism

Resilience 21 Sep 2018

These areas range from shadow banking to fractional reserve banking to international financial governance to central bank accountability ... The big banks that were rescued by the U.S ... Thus, a sharp drop in property valuations would immediately have a negative impact on the shadow-banking sector — creditors would be left running after bankrupt developers or holding massively depreciated real estate as collateral....

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CCI clears ArcelorMittal, JSW Steel's bids for steel assets

Yahoo Daily News 20 Sep 2018

ArcelorMittal-led consortium including Nippon Steel and Sumitomo Metal has offered Rs 42,000 crore for Essar Steel, which is significantly higher than Rs 37,000 crore bid submitted by Numetal, a consortium led by Russia's VTB Bank....

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MannKind: Say It Ain't So, Dr. Kendall!

Seeking Alpha 20 Sep 2018

The chorus in Weezer's song - Say it Ain't So . ... Kendall! ... Now, you know why United wrote into the contract where they not only control the product - whether MannKind stays solvent or goes bankrupt - they have the rights to manufacture the product. You can take it to the bank, United isn't interested in owning a Danbury manufacturing plant that is burden with equipment that is so antiquated and expensive to create their inhaled products....

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On the 10th Anniversary of Lehman Brothers 2008: Can ‘IT’ Happen Again?

CounterPunch 19 Sep 2018

This past weekend, September 15-16, marked the 10th anniversary of the Lehman Brothers Investment bank collapse and the subsequent generalized financial system crash that followed ... The big banks—Bank of America and Citigroup—were technically bankrupt by late 2008 and could have been dismantled were it not for $300 billion in debt payment guarantees by the US government ... Mid-tier banks were provided more than $100 billion....

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Getting It Wrong Again: Consumer Spending and the Great Recession

CounterPunch 18 Sep 2018

It is also worth correcting a couple of points on the bank bailouts. First, the Federal Deposit Insurance Corporation, which did not exist at the start of the Great Depression, could have kept the banks operating and ensured that the ATMs were working even if there had not been a bailout ... Since the banks were bankrupt, as Bernanke now argues, the executives would have had no legal option except to agree to these terms....

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Reliance Power looking to buy stressed power assets: Anil Ambani

Live Mint 18 Sep 2018

Thirty-four stressed power projects account for about ₹ 1.74 trillion of the ₹ 10.3 trillion non-performing assets (NPAs) in the Indian banking system. A few of these power plants have been declared bankrupt by their lenders and can be bought out by interested parties under a ......

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An Upheaval: Systematic Thinkers Toll The Bell

Seeking Alpha 17 Sep 2018

Market Pulse. The 10-year anniversary of the last economic crisis appears like an appropriate time to toll the bell on the next economic crisis. It was this month in 2008, that mainstream America finally came to reckon with the economic meltdown as Lehman Brothers went bankrupt, Merrill Lynch was acquired by Bank of America (BAC), and the government bailed out AIG (AIG), all within a matter of two days ... Ray Dalio ... Marko Kolanovic ... Mr ... ....

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Lessons for 2008 financial meltdown: A smart investment strategy is to buy on bad news

Moneycontrol 16 Sep 2018

V K Vijayakumar ... It was 10 years ago, on September 15, 2008, that the iconic US investment bank Lehman Brothers went bankrupt ... The US Federal Reserve, the European Central Bank and the central banks of UK and Japan implemented an ultra-loose monetary policy and brought down interest rates to near zero levels ... Investors who bought 'when there was blood on the streets' laughed all the way to the bank when calm returned to the market ... ....

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