bankruptcy

One reason I came out this morning against the Fed and the U.S. Treasury's decision to allow Lehman Brothers to go bankrupt is the arbitrariness of its decision-making process. Lehman is easily more of a systemic risk than Bear Stearns and…

Update Mar 2009: There is a pernicious little piece of historical revisionism going around that the Lehman bankuptcy did not matter. I am reposting this as a retort. Note the piece by James Suriowiecki which induced me to re-post: In…

I am not a certified financial planner and therefore, do not give financial advice or investment advice. Anyone looking for financial advice is advised to see a independent certified financial planner to help them with their investments.The…

Update: 815AM EDT: Unable to find buyers in around the clock talks, Lehman Brothers has filed for bankruptcy protection. On Friday, it was learned that Lehman had hired bankruptcy attorneys. Now, the worst has come to pass: Lehman has…

In case you missed it, the financial system in the U.S. is near collapse. This weekend was unbelievable. Lehman Brothers filed for bankruptcy. The world's largest insurer AIG is looking for the Fed to help it avoid collapse and Merrill…

Update: 810 PM EDT: Rush Is On to Prevent A.I.G. From Failing Update: 1045 PM EDT: A.I.G. Seeks $40 Billion in Fed Aid to Survive Update: 810 AM EDT: See my post on what to expect this morning in the market and my (cursory) analysis of the…

Update: 800PM EDT: DealBook is now reporting that Lehman is expected to file bankruptcy as soon as tonight. (See post). Merrill, fearing for its continued existence, is now in takeover talks with BofA (see…

I have been so busy following the ongoing saga in financial services that I forgot to tell you about two Washington DC-area home builders in the news. Comstock, a privately-held developer, just defaulted on almost $100 million in debt. In…

The word on the street is that Lehman will be bought by September 13th. The rumor mill swirls when a stock crashes like Lehman has. Rumors fill the vacuum left by a lack of certainty about a company's prospects. And right now people are…

Today's punishing session on Wall Street just ended down over 280 points. The glee of yesterday is well and truly over. Lehman Brothers in particular, was punished today as news of its stalled talks with the Korean Development Bank…