Financial Crisis

Iceland Economy Melts Away Like an Owsley Gooniebird

Iceland is all but officially bankrupt INTERNATIONAL HERALD TRIBUNE International Herald Tribune Iceland is all but officially bankrupt By Eric Pfanner Thursday, October 9, 2008 REYKJAVIK: People go bankrupt all the time. Companies do, too. But countries? Iceland was on the verge of doing exactly that on Thursday as the government shut down the stock […]

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JP Morgan Buys Washington Mutual

WASHINGTON -(Dow Jones)– JPMorgan Chase & Co. (JPM) acquired Washington Mutual Inc. (WM) via a bidding process, after the thrift became the biggest bank failure in U.S. history, regulators announced late Thursday. “With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business,” the Office of Thrift Supervision […]

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