Daily Archives: June 16, 2009
Transparency: The Largest Bankruptcies in History
Last week, General Motors began the fourth largest bankruptcy proceedings in history, joining the many other large and venerable companies that have sunk to the bottom during this economic crisis. In fact, eight of the 20 largest bankruptcies have happened … Continue reading
Credit Card Crisis
A number you won’t hear much about on CNBC: Capital One’s official annualized U.S. credit card net charge-off rate hit 9.41% for May, however as footnote (1) advises, the real charge-off rate was actually 9.91%, a record for the company. … Continue reading
Obama and the Politics of Short Memories
It’s one thing for President Obama to face off against Fox News, the right-wing radio empire and Republican congressional leaders whose names are unfamiliar to much of the public. It’s quite another to confront organized business. That’s why last week’s … Continue reading
We’re Building the Foundation for the Next Crisis – Baseline Scenario
Writing in the Washington Post this morning, Tim Geithner and Larry Summers outline a five point plan for dealing with the underlying problems in our financial system, entitled A New Financial Foundation. The authors are not completely clear on what they … Continue reading →