we can’t remember such a foreboding Christmas season. Factories all around the world are shutting down. People are losing their jobs. Banks are repossessing houses. Prices are being cut…
December 23rd, 2008 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "bankruptcy"
Apocalypse Now
The last time the sky fell was 96 years ago. Few saw it coming; no one panicked. But panic wouldn’t exist if it weren’t a useful instinct from time to time. The celestial bricks came unglued in August 1914. By 1918, 40 million people had died. But that was just the beginning.
November 10th, 2008 | Bill Bonner | 9 comments | Continued
Biggest Bankruptcy in Wall Street History
How a company that survived the Civil War, the railroad bankruptcies, the Panics, WWI, the Great Depression, WWII, and the Cold War couldn’t survive the biggest financial boom in Wall Street history?
September 17th, 2008 | Bill Bonner | 1 comment | Continued
Angry Mortgagees Protesting Bear Stearns Favouritism
Last Wednesday, a bunch of peeved mortgagees protesting government favoritism in the Bear Stearns case entered the lobby of the company’s (soon-to-be-former) headquarters building in midtown Manhattan. While it might not seem like much, I view the symbolic “penetration” of this corporate stronghold as the very first sign of a much broader citizen revolt against the extraordinary protections being shown to crapped-out investment banker boyz…
April 10th, 2008 | James Howard Kunstler | 7 comments | Continued