Word: bankrupting
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Lewis had long coveted the retail brokerage business. Merrill Lynch, with its legions of investment salespeople, was to be Lewis' crowning acquisition. It ended up being his undoing. In the quickly hatched deal, Lewis paid $19 billion for Merrill, which most people agreed was nearly bankrupt. In the fourth quarter alone, Merrill Lynch lost more than $15 billion...
First, the fragility, a.k.a. risk. A year ago, officials at the Treasury Department and the Federal Reserve didn't think letting Lehman go bankrupt would be a disaster. Those same officials have since argued that the law gave them no choice. But it's also clear that the authorities--then Treasury Secretary Hank Paulson, in particular--didn't want to intervene. The Fed and Treasury had taken a lot of flak for their earlier bailouts of Bear Stearns, Fannie Mae and Freddie Mac. It was time to let the market work...
...administration has made important progress in incorporating student opinion into this difficult process. Now it remains up to students and the community to make sure this bank can keep FAS from going bankrupt...
...Obama has barnstormed the country this year, he has been forced to talk more about the problem - a health-care inflation that could bankrupt the nation - than how much Americans would save if the broken system were fixed. From the Sunday news shows to David Letterman's overstuffed chair, Obama has warned about the rocketing increase in health-care insurance - 5.5% last year, according to one study - and promised to bend the cost curve down in the future. He has described changes to the health-care system that could bring down costs for families and long-term government deficits...
...Ezzeddine's schemes - supposed investments in oil, publishing, metals and television, spread out from the Gulf to Africa - are unraveling on a spectacular scale, and it is casting Hizballah in an unflattering light. The house of cards began falling earlier this month, when his businesses went bankrupt, ostensibly from the effects of the global financial crisis. But rumors swirled in the press of a pyramid scheme of more than $1 billion, and the local media dubbed Ezzeddine the Lebanese Bernie Madoff. Last weekend the Lebanese government charged him with fraud. All across the Shi'ite-populated regions of Lebanon, thousands...