(Reuters) - The bankruptcy estate of Lehman Brothers Holdings is close to naming a new board of directors to help finish winding down the collapsed financial firm, the Wall Street Journal said, citing people familiar with the matter.
LONDON/SINGAPORE (Reuters) - Manufacturing activity is contracting across Europe and most of Asia, data showed on Thursday, and a Chinese official declared that the world economy faces a worse situation than in 2008 when Lehman Brothers collapsed.
(Reuters) - The China hard-landing debate is a classic tail risk story -- an unlikely scenario, but if it materializes the consequences could be catastrophic.
WASHINGTON — The US Treasury said Thursday it had recovered nearly $900 million during the first six months of the year in taxpayer money used to bail out the banking system during the financial crisis.
Remember this lesson folks: when average Joes and Janes lose their jobs and homes due to this economic meltdown it's a correction; when a corporation of the size of AIG runs itself into the ground is deemed "too big to fail" and it gets to suck on the government teat. They break it, you own it.
