United Liberty
Bankruptcy
Bailing Out the Auto Industry: A Perspective
Fri, 12/12/2008 - 3:40am | posted by Dr. Charles Kennedy
Thursday evening I posted on my Facebook profile the speech that Congressman Ron Paul gave on the House floor, opposing the auto industry bailout (the so-called “bridge loan”), along with the following comment:
“This speech on the auto bailout speaks for itself. Congressman Paul really puts it all into perspective. Were that there were more in Congress like him.”
Capital Structure and Bankruptcy
Tue, 06/02/2009 - 11:33pm | posted by Matt Wittlief
The failure of the U.S. auto industry has been a dominant news story over the last few months. Today, GM filed for bankruptcyand it appears Chrysler will emerge reorganized soon after Judge Arthur Gonzalez rejected opposing arguments. Over a couple of articles, we will discuss some of the basic nuts and bolts of bankruptcy, a few of the key opponents of the Chrysler reorganization, and some general comments on the entire process.
Let’s dive in.
Iceland on Brink of Bankruptcy
Wed, 10/08/2008 - 4:44pm | posted by Shana Kluck
This is just one more example we are in the midst of the most significant crisis in a generation. How this plays out nobody knows for sure. The only thing we can safely guess is that there will probably be more centralization around the world with nations and central banks escalating attempts to “fix” the economy through non-market forces.
Three Down - Two To Go
Sun, 09/14/2008 - 3:18pm | posted by Austin Wilkes
What a weekend. We have been hearing about the troubles with Merrill Lynch and Lehman Brothers for months, with intense focus over the last week, but the bankruptcy of Lehman and buyout of Merrill have radically altered the investment banking landscape more in one day than we have seen in the previous few years. With the bailout of Bear Sterns this spring by JP Morgan, visa-vis the Federal Reserve, 3 of our nation’s top 5 independent investment banks either do not or are soon to not exist in their pre-2008 form. This news is on top of the recent Treasury Department takeover of Fannie Mae and Freddie Mac that occurred earlier this month.
While the actual problems that led to what is essentially the collapse of Bear Sterns, Merrill Lynch, and Lehman Brothers have been brewing for decades the string of public bad news in regards to their balance sheets has come to light mainly within the last year. The problems and the ensuing financial chaos that resulted will be analyzed and discussed in the financial and policy circles for years, but the news that will be dominating today began with the Sunday morning breakdown of negotiations between Lehman Brothers and other top Wall Street firms, who were attempting to find funding to solve Lehman’s capital crisis.
