Changing federal bankruptcy law to allow individual states to file is an idea that appears to be gathering momentum—and opposition.
Sometimes even the most recognizable companies should be banned from the market.
Should Congress consider creating a legal regime to enable states to restructure their obligations? With the cacophony of alarm bells as our states sit insolvent thanks to enormous unfunded healthcare and pension liabilities and municipal bond obligations, the answer clearly is yes.
Although current law does not allow states to go bankrupt, some experts believe it should be permitted so the federal government can avoid bailing out states faced with massive budget shortfalls and the end of stimulus funds in 2011.
With anemic property tax revenues and forecasts of more dire financial times ahead, some experts and elected leaders fear that more localities may have to at least consider bankruptcy. The New York Times reports.
The finances of some state and local governments are so distressed that some analysts say they are reminded of the run-up to the subprime mortgage meltdown or of the debt crisis hitting nations in Europe. The New York Times reports.
What follows is a list of the 15 action movie stars who fell from box office dominance to the lowest rung on the ladder. Here are 15 action movie stars who got their financial butts kicked.
GM history in the second half of the 20th century is a story of executive arrogance, missed opportunities, poor decision-making and reckless finance.
Merrill Lynch was the world's largest brokerage but in September 2008 – at the height of the financial crisis, it ceased to exist as a separate entity when it was acquired by Bank of America. How could this American institution collapse almost overnight? Now the story is being told.
Just two years after a taxpayer bailout of General Motors, some average investors won't be able to get shares in GM's IPO, which is expected to be a lucrative investment opportunity.
Big players are going to profit off the little guy again on the most hotly watched IPO since Google and here's how.
While gaming companies on the Strip catering to international tourists are starting to see improvement, the verdict's still out on the off-Strip properties.
If you’re looking to renovate and flip, forget it. But if you’re in a position to buy and hold, with the intent of either renting your property or sitting on it until the real estate recession subsides, the market is ripe for the picking.
Extended Stay emerged from Chapter 11 bankruptcy protection, a few months after the hotel chain was bought by a group of investors led by private equity firm Centerbridge Partners.
A group of Washington Mutual creditors have signed on to a settlement that pushes the bank's reorganization plan a step closer to approval.
It's easier to bankrupt yourself than you think. “People think it will all just work out somehow. They think: ‘I’ll get a raise. I’ll get a good tax refund,’” one pro said. "I think that’s what gets people into trouble.” Here are five quick ways to bankrupt yourself. You're welcome.
Mayor Antonio Villaraigosa dismissed former L.A. Mayor Richard Riordan's gloomy prediction that the city will be bankrupt by 2014.
Lenny Dykstra has long portrayed himself as the victim of fraud. Now the Trustee of the U.S. Bankruptcy Court is accusing Dykstra of fraud.
General Growth Properties said it will take full ownership of a Las Vegas residential property from the heirs of Howard Hughes, removing a potential hurdle in the U.S. mall owner's attempt to emerge from bankruptcy.
How long it takes for the government to divest its holdings in General Motors will, in part, be determined by the company’s success, G.M.’s chief executive said. The New York Times reports.