Otter survives ‘perilous’ sea crossing to Farne Islands BBC (hat tip reader Richard)
Bankruptcy Is Option to GM Board Wall Street Journal. I read the article, and still don’t get it. Given that GM professes that it will run out of cash before the year ends, how is bankruptcy NOT an option? Yes, I know the real issue is solidarity of the board with Wagoner, but the willingness (until now) to give lip service to patent nonsense is altogether too common in Corporate America.
US help for investors to buy ailing banks Financial Times
Embarrassed GM axes two private jets Guardian (hat tip reader Sean)
Tangled tangibles Bove vs. Winkler on Citi’s equity. The markets appear to be in agreement with Winkler.
“Recession? Why Worry?” Mark Thoma
Bust-outs and the Paulson Mob Independent Accountant. Shares a pet interest of ours: are all these Wall Street failures in fact bankruptcy fraud?
And unlike your humble blogger, knows case history.
Not Everything Can Be Too Big to Fail Peter Wallison, Wall Street Journal. Important.
Antidote du jour: